Gold Hill, Nevada Property Taxes
The median property tax rate in Gold Hill, NV is 0.76%, which is lower than both the national median of 0.99% and the Nevada state median of 0.80%. With a median home value of $55,704, the typical annual property tax bill in Gold Hill amounts to $425, significantly below the national median of $2,690. Property taxes in Gold Hill are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Gold Hill's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Gold Hill or another part of the city, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gold Hill, Nevada Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$423
$393
Ownwell’s Gold Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gold Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gold Hill 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 the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Gold Hill, Nevada
Property taxes in Gold Hill, Nevada, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gold Hill is 0.76%, which is lower than both the Nevada state median and the U.S. national median of 0.99%. Local government entities within Gold Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gold Hill 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 Gold Hill's effective property tax rate to other counties in Nevada and the national median. For comparison, the 89440 zip code has the highest median property tax rate of 0.76%, while the same zip code also has the lowest median tax rate of 0.76%. Understanding how these cities compare with Gold Hill provides valuable insights into the varying tax landscape across Storey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gold Hill Tax Rate
0.76%
Average Storey County Tax Rate
0.98%
Average Nevada Tax Rate
0.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gold Hill, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89440 | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Gold Hill, Nevada
In Gold Hill, 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 Storey County Appraisal District 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 Gold Hill, 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 Gold Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 89440 has both the highest and lowest median tax bill, which is $425.
Average Gold Hill Assessed Value
$55,704
Average Storey County Assessed Value
$161,718
Average Nevada Assessed Value
$225,374
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gold Hill, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89440 | $55,704 | $55,704 | $55,704 | $55,704 | $55,704 |
Source: Ownwell
Property Tax Bills Across Gold Hill, Nevada
In Gold Hill, NV, located in Storey County, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. For homeowners in Gold Hill, the median home price is $55,704. The property tax rate in this region is applied to the assessed value to determine the annual tax bill. In this area, the property tax bill consistently stands at $425, regardless of whether it falls in the 25th, 75th, or 90th percentile. This uniformity suggests a stable tax environment for homeowners, providing predictability in annual expenses. Compared to the national median property tax rate of 0.99%, Gold Hill's property tax rate offers a favorable scenario for residents. This lower tax burden can make homeownership more affordable and financially manageable, potentially increasing the attractiveness of the area for prospective buyers.
Average Gold Hill Tax Bill
$425
Average Storey County Tax Bill
$1,283
Average Nevada Tax Bill
$1,782
Average United States Tax Bill
$2,690
Property Tax Bills Across Gold Hill, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89440 | $425 | $425 | $425 | $425 | $425 |
Source: Ownwell