Incline Village, Nevada Property Taxes
The median property tax rate in Incline Village, NV is 1.34%, considerably higher than both the national median of 0.99% and the Nevada state median of 0.80%. With the median home value in Incline Village at $358,527, the typical annual property tax bill reaches $4,878, exceeding the national median of $2,690. Property taxes in Incline Village 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 Incline Village'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 Incline Village 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
Incline Village, Nevada Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.34%
Estimate Property Tax Bill
$4,804
Ownwell’s Incline Village Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Incline Village with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Incline Village 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 Incline Village, Nevada
Property taxes in Incline Village, Nevada, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Incline Village is 1.34%, significantly higher than the U.S. national median of 0.99%. Local government entities within Incline Village set these rates annually, and they can vary across different neighborhoods. Each year, Incline Village 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 Incline Village's effective property tax rate to other areas and the national median. For comparison, the zip code 89451 has the highest median property tax rate of 1.34%, while the same zip code also has the lowest median tax rate of 1.34%. Understanding how these areas compare with Incline Village provides valuable insights into the varying tax landscape across Washoe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Incline Village Tax Rate
1.34%
Average Washoe County Tax Rate
1.13%
Average Nevada Tax Rate
0.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Incline Village, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89451 | 1.10% | 1.24% | 1.34% | 1.45% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Incline Village, Nevada
In Incline Village, 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 Washoe County Assessor's Office 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 Incline Village, 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 Incline Village helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $4878, found in zip code 89451.
Average Incline Village Assessed Value
$358,527
Average Washoe County Assessed Value
$201,928
Average Nevada Assessed Value
$225,374
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Incline Village, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89451 | $122,358 | $177,512 | $358,527 | $683,071 | $1,216,786 |
Source: Ownwell
Property Tax Bills Across Incline Village, Nevada
In Incline Village, located in Washoe County, NV, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is a percentage of the property's market value. The tax rate is then applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. Homeowners in Incline Village experience varying tax bills, with the 25th percentile at $2,451 and the 75th percentile at $8,311. The 90th percentile sees tax bills as high as $15,022. The highest and lowest median tax bills in the area are both $4,878, indicating some uniformity within specific zip codes. These property tax rates can significantly impact homeowners, affecting their annual expenses and overall financial planning. With a national median property tax rate of 0.99%, the tax burden in Incline Village can be considered relatively high, depending on the property's assessed value.
Average Incline Village Tax Bill
$4,878
Average Washoe County Tax Bill
$2,401
Average Nevada Tax Bill
$1,782
Average United States Tax Bill
$2,690
Property Tax Bills Across Incline Village, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89451 | $1,778 | $2,451 | $4,878 | $8,311 | $15,022 |
Source: Ownwell