Lovelock, Nevada Property Taxes
The median property tax rate in Lovelock, NV is 1.09%, considerably higher than both the national median of 0.99% and Nevada's state median of 0.80%. With the median home value in Lovelock, the typical annual property tax bill reaches $91, which is significantly lower than the national median of $2,690. Property taxes in Lovelock are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lovelock's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lovelock or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lovelock, Nevada Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$1,600
Ownwell’s Lovelock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lovelock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lovelock 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 Pershing County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Lovelock, Nevada
Property taxes in Lovelock, Nevada, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lovelock is 1.09%, higher than the U.S. national median of 0.99%. Local government entities within Lovelock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lovelock 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 Lovelock's effective property tax rate to other counties in Nevada and the national median. For comparison, the 89419 zip code has the highest median property tax rate of 1.09%, while the same 89419 zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Lovelock provides valuable insights into the varying tax landscape across Pershing County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lovelock Tax Rate
1.09%
Average Pershing County Tax Rate
1.11%
Average Nevada Tax Rate
0.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lovelock, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89419 | 0.87% | 0.87% | 1.09% | 1.49% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Lovelock, Nevada
In Lovelock, 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 Pershing 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 Lovelock, 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 Lovelock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Lovelock is $6,847, with tax bills ranging from $46 at the 25th percentile to $1,650 at the 90th percentile.
Average Lovelock Assessed Value
$6,847
Average Pershing County Assessed Value
$15,347
Average Nevada Assessed Value
$225,374
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lovelock, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89419 | $5,347 | $5,347 | $6,847 | $62,368 | $140,718 |
Source: Ownwell
Property Tax Bills Across Lovelock, Nevada
In Lovelock, Pershing County, NV, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. This assessed value is a percentage of the market value of your property. The tax rate is then applied to this assessed value to determine the annual tax bill. For Lovelock homeowners, the median home price is $6,847, which is significantly lower than the national median. The tax bills can vary widely depending on the value of the property. For instance, at the 25th percentile, homeowners might see a tax bill around $46, while at the 75th percentile, the bill could rise to $857. For those in the 90th percentile, it can go up to $1,650. These variations illustrate how property values and corresponding tax rates can significantly impact what homeowners owe annually. Understanding these factors can help homeowners anticipate their financial obligations and plan accordingly.
Average Lovelock Tax Bill
$91
Average Pershing County Tax Bill
$172
Average Nevada Tax Bill
$1,782
Average United States Tax Bill
$2,690
Property Tax Bills Across Lovelock, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89419 | $46 | $46 | $91 | $857 | $1,650 |
Source: Ownwell