Sparks, Nevada Property Taxes
The median property tax rate in Sparks, NV is 0.65%, significantly lower than both the national median of 0.99% and the Nevada state median of 0.80%. With the median home value in Sparks being $149,648, the typical annual property tax bill amounts to $998, which is well below the national median of $2,690. Property taxes in Sparks are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Sparks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you reside in the heart of Sparks or another part of the city, a thorough grasp of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sparks, Nevada Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$973
$903
Ownwell’s Sparks Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sparks with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sparks 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 Sparks, Nevada
Property taxes in Sparks, Nevada, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sparks is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Sparks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sparks 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 Sparks' effective property tax rate to other areas in Nevada and the national median. For comparison, the 89434 zip code has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these areas compare with Sparks 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 Sparks Tax Rate
0.65%
Average Storey County Tax Rate
0.98%
Average Nevada Tax Rate
0.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sparks, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89434 | 0.57% | 0.61% | 0.65% | 0.70% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Sparks, Nevada
In Sparks, 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 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 Sparks, 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 Sparks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Sparks is found in the 89434 zip code, with a value of $998.
Average Sparks Assessed Value
$149,648
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 Sparks, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89434 | $120,172 | $129,759 | $149,648 | $178,130 | $202,487 |
Source: Ownwell
Property Tax Bills Across Sparks, Nevada
In Sparks, located in Storey County, NV, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, with a median home price of $149,648, the tax bill can vary significantly. Factors such as the property's location within specific zip codes, like 89434, can influence the final amount. The median tax bill in this area is notably consistent, with both the highest and lowest median tax bills recorded at $998. The tax bill is determined by multiplying the assessed value by the local tax rate. Homeowners in Sparks can expect their annual property tax bills to fall within a range, with the 25th percentile at $850, the 75th percentile at $1140, and the 90th percentile reaching up to $1308. These taxes fund essential public services like schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, Sparks offers a relatively predictable and manageable tax environment for homeowners.
Average Sparks Tax Bill
$998
Average Storey County Tax Bill
$1,283
Average Nevada Tax Bill
$1,782
Average United States Tax Bill
$2,690
Property Tax Bills Across Sparks, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89434 | $760 | $850 | $998 | $1,140 | $1,308 |
Source: Ownwell