Mill City, Nevada Property Taxes
The median property tax rate in Mill City, NV is 0.75%, which is lower than both the national median of 0.99% and the Nevada state median of 0.80%. With the median home value in Mill City, the typical annual property tax bill is $62, significantly lower than the national median of $2,690. Property taxes in Mill City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mill City'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 Mill City 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
Mill City, Nevada Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$62
$58
Ownwell’s Mill City Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Mill City with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Mill City to project your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in neighborhood-level trends, scroll down to discover more localized information. Your property’s assessed value is the value assigned by Pershing County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Mill City, Nevada
Property taxes in Mill City, Nevada, play a crucial role in financing essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mill City is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Mill City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mill City 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 Mill City's effective property tax rate to other counties in Nevada and the national median. For comparison, the 89418 zip code has both the highest and lowest median property tax rate at 0.75%. Understanding how these areas compare with Mill City 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 Mill City Tax Rate
0.75%
Average Pershing County Tax Rate
1.11%
Average Nevada Tax Rate
0.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mill City, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89418 | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Mill City, Nevada
In Mill City, 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 Mill City, 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. The median home price in Mill City is $8,291, and property tax bills can vary significantly, with the 25th, 75th, and 90th percentiles all seeing a tax bill of $62. Being aware of these valuation processes in Mill City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mill City Assessed Value
$8,291
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 Mill City, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89418 | $8,291 | $8,291 | $8,291 | $8,291 | $8,291 |
Source: Ownwell
Property Tax Bills Across Mill City, Nevada
In Mill City, Pershing County, NV, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Mill City is $8,291, and the property tax rate in the area is applied to this assessed value to determine the tax bill. Factors that influence the tax bill include the property's market value, any applicable exemptions, and the local tax rate. For homeowners, this means that their annual property tax bill can vary depending on the assessed value of their property. In Mill City, the tax bills at the 25th, 75th, and 90th percentiles are all $62, which suggests a relatively uniform tax burden across different property values. This stability can be beneficial for homeowners, providing predictability in their annual expenses. Compared to the national median property tax rate of 0.99%, Mill City's property tax rate offers a unique perspective on how local taxation can impact homeowners differently across the country.
Average Mill City Tax Bill
$62
Average Pershing County Tax Bill
$172
Average Nevada Tax Bill
$1,782
Average United States Tax Bill
$2,690
Property Tax Bills Across Mill City, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89418 | $62 | $62 | $62 | $62 | $62 |
Source: Ownwell