Reno, Nevada Property Taxes
The median property tax rate in Reno, NV is 1.13%, which is notably higher than both the national median of 0.99% and Nevada's state median of 0.80%. With the median home value in Reno at $202,746, the typical annual property tax bill amounts to $2,387, still below the national median of $2,690. Property taxes in Reno are based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Reno'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 Reno 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
Reno, Nevada Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$2,291
$2,126
Ownwell’s Reno Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Reno with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Reno 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 Reno, Nevada
Property taxes in Reno, Nevada, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Reno is 1.13%, higher than both the Nevada state median and the U.S. national median of 0.99%. Local government entities within Reno set these rates annually, and they can vary significantly across different neighborhoods. Each year, Reno 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 Reno's effective property tax rate to other areas in Nevada and the national median. For comparison, the 89510 zip code has the highest median property tax rate of 1.26%, while the 89508 zip code has the lowest median tax rate of 0.87%. Understanding how these cities compare with Reno 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 Reno Tax Rate
1.13%
Average Washoe County Tax Rate
1.13%
Average Nevada Tax Rate
0.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Reno, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89501 | 0.64% | 0.79% | 0.94% | 1.23% | 1.42% |
| 89502 | 0.77% | 0.87% | 1.08% | 1.22% | 1.36% |
| 89503 | 0.80% | 0.87% | 1.04% | 1.23% | 1.40% |
| 89506 | 0.80% | 0.90% | 1.02% | 1.27% | 1.57% |
| 89508 | 0.73% | 0.77% | 0.87% | 1.12% | 1.26% |
| 89509 | 0.79% | 0.91% | 1.16% | 1.32% | 1.44% |
| 89510 | 0.98% | 1.12% | 1.26% | 1.34% | 1.42% |
| 89511 | 0.93% | 1.01% | 1.10% | 1.20% | 1.33% |
| 89512 | 0.57% | 0.74% | 0.92% | 1.17% | 1.49% |
| 89519 | 1.07% | 1.17% | 1.25% | 1.35% | 1.47% |
| 89521 | 1.01% | 1.12% | 1.22% | 1.34% | 1.46% |
| 89523 | 1.00% | 1.12% | 1.21% | 1.31% | 1.43% |
| 89595 | 0.98% | 0.99% | 1.01% | 1.01% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Reno, Nevada
In Reno, 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 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 Reno, 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. For instance, the highest median tax bill in Reno is $4,750 in the 89511 zip code, while the lowest is $163 in the 89595 zip code. Being aware of these valuation processes in Reno helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Reno Assessed Value
$202,746
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 Reno, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89501 | $93,411 | $123,941 | $208,894 | $347,466 | $505,562 |
| 89502 | $55,371 | $69,403 | $112,576 | $157,713 | $243,328 |
| 89503 | $86,266 | $97,858 | $112,911 | $159,777 | $224,104 |
| 89506 | $67,131 | $90,840 | $169,225 | $227,217 | $292,757 |
| 89508 | $108,867 | $158,772 | $198,579 | $242,034 | $292,565 |
| 89509 | $80,773 | $129,464 | $180,202 | $262,773 | $389,520 |
| 89510 | $114,021 | $182,159 | $238,905 | $335,762 | $446,949 |
| 89511 | $151,086 | $236,477 | $408,969 | $680,511 | $1,032,518 |
| 89512 | $44,779 | $63,118 | $79,868 | $142,888 | $261,012 |
| 89519 | $83,309 | $226,168 | $334,960 | $522,636 | $835,283 |
| 89521 | $163,574 | $225,553 | $294,494 | $376,836 | $472,299 |
| 89523 | $148,966 | $190,849 | $243,785 | $323,923 | $457,023 |
| 89595 | $16,200 | $16,200 | $16,200 | $20,400 | $20,400 |
Source: Ownwell
Property Tax Bills Across Reno, Nevada
Property tax bills in Reno, located in Washoe County, NV, are calculated based on the assessed value of the property, which is typically a percentage of the market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. In Reno, property tax rates can vary significantly depending on the location and value of the property. For instance, the 25th percentile tax bill is $1,302, while the 75th percentile reaches $3,815, and the 90th percentile can go up to $5,837. The highest median tax bill in the area is $4,750, found in the 89511 zip code, whereas the lowest is just $163 in the 89595 zip code. These variations show how different factors such as property location and market value can significantly affect the amount homeowners owe. Compared to the national median property tax rate of 0.99%, Reno's property tax rates reflect a range that can be both lower and higher, impacting homeowners differently based on their specific circumstances.
Average Reno Tax Bill
$2,387
Average Washoe County Tax Bill
$2,401
Average Nevada Tax Bill
$1,782
Average United States Tax Bill
$2,690
Property Tax Bills Across Reno, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89501 | $857 | $1,300 | $2,047 | $2,945 | $4,224 |
| 89502 | $476 | $657 | $1,137 | $1,952 | $3,173 |
| 89503 | $717 | $877 | $1,195 | $1,798 | $2,822 |
| 89506 | $686 | $1,168 | $1,847 | $2,750 | $3,855 |
| 89508 | $1,041 | $1,383 | $1,741 | $2,463 | $3,333 |
| 89509 | $834 | $1,235 | $1,964 | $3,330 | $5,076 |
| 89510 | $1,678 | $2,209 | $3,168 | $4,572 | $5,694 |
| 89511 | $1,747 | $2,750 | $4,750 | $7,617 | $11,485 |
| 89512 | $295 | $517 | $709 | $1,755 | $3,315 |
| 89519 | $1,201 | $2,871 | $4,220 | $6,277 | $10,147 |
| 89521 | $2,132 | $2,805 | $3,639 | $4,972 | $6,427 |
| 89523 | $1,907 | $2,376 | $2,995 | $4,047 | $5,674 |
| 89595 | $163 | $163 | $163 | $193 | $202 |
Source: Ownwell