Tonopah, Nevada Property Taxes
In Tonopah, NV, the median property tax rate of 1.17% is notably higher than both the national median of 0.99% and Nevada's state median of 0.80%. With a median home value of $47,780, the typical annual property tax bill in Tonopah amounts to $541, which is significantly lower than the national median of $2,690. Property taxes in Tonopah are determined based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Tonopah’s property tax system, exploring the available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you reside in the core of Tonopah or another part of the city, a comprehensive grasp of the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Tonopah, Nevada Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$559
$519
Ownwell’s Tonopah Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tonopah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tonopah to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by Nye County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Tonopah, Nevada
Property taxes in Tonopah, Nevada, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tonopah is 1.17%, significantly higher than the U.S. national median of 0.99%. Local government entities within Tonopah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tonopah estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Tonopah's effective property tax rate to other counties in Nevada and the national median. For comparison, the zip code 89049 has both the highest and lowest median property tax rate of 1.17%. Understanding how these cities compare with Tonopah provides valuable insights into the varying tax landscape across Nye County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tonopah Tax Rate
1.17%
Average Nye County Tax Rate
0.90%
Average Nevada Tax Rate
0.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tonopah, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89049 | 0.85% | 1.04% | 1.17% | 1.26% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Tonopah, Nevada
In Tonopah, Nevada, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Nye County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Tonopah, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Tonopah helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Tonopah, the highest and lowest median tax bills are both $541 in the 89049 zip code, highlighting a uniformity that can be advantageous for property owners.
Average Tonopah Assessed Value
$47,780
Average Nye County Assessed Value
$128,622
Average Nevada Assessed Value
$225,374
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tonopah, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89049 | $9,386 | $22,161 | $47,780 | $81,182 | $136,356 |
Source: Ownwell
Property Tax Bills Across Tonopah, Nevada
In Tonopah, located in Nye County, NV, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Tonopah, the median home price is $47,780. Property tax bills can vary significantly within the area. For instance, the tax bill at the 25th percentile is $251, while at the 75th percentile, it rises to $908. At the 90th percentile, homeowners might see tax bills as high as $1,343. These variations depend on factors such as property location, size, and improvements. Compared to the national median property tax rate of 0.99%, Tonopah's property taxes provide a relatively affordable option for homeowners. Understanding these factors and how they affect tax bills can help homeowners better manage their finances and plan for future expenses.
Average Tonopah Tax Bill
$541
Average Nye County Tax Bill
$1,034
Average Nevada Tax Bill
$1,782
Average United States Tax Bill
$2,690
Property Tax Bills Across Tonopah, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89049 | $113 | $251 | $541 | $908 | $1,343 |
Source: Ownwell