Sparks, Nevada Property Taxes
The median property tax rate in Sparks, NV is 1.11%, notably higher than both the national median of 0.99% and the Nevada state median of 0.80%. With the median home value in Sparks at $201,436, the typical annual property tax bill amounts to $2,386, which is below the national median of $2,690. Property taxes in Sparks are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sparks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Sparks 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
Sparks, Nevada Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,236
$2,075
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, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sparks is 1.11%, higher than both the Nevada state median and 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 1.18%, while the 89431 zip code has the lowest median tax rate of 0.95%. Understanding how these areas compare with Sparks 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 Sparks Tax Rate
1.11%
Average Washoe County Tax Rate
1.13%
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 |
|---|---|---|---|---|---|
| 89431 | 0.76% | 0.83% | 0.95% | 1.17% | 1.43% |
| 89434 | 0.98% | 1.10% | 1.18% | 1.30% | 1.41% |
| 89436 | 0.91% | 0.98% | 1.12% | 1.30% | 1.48% |
| 89441 | 0.96% | 1.01% | 1.09% | 1.20% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Sparks, Nevada
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Sparks, NV. 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 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. For example, the highest median tax bill in Sparks is $3,315 in the 89441 zip code, while the lowest is $864 in the 89431 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sparks Assessed Value
$201,436
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 Sparks, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89431 | $68,046 | $81,532 | $92,016 | $109,514 | $157,212 |
| 89434 | $81,319 | $117,974 | $142,936 | $208,672 | $329,297 |
| 89436 | $150,274 | $200,806 | $260,210 | $347,885 | $419,510 |
| 89441 | $162,032 | $204,857 | $281,366 | $368,458 | $500,030 |
Source: Ownwell
Property Tax Bills Across Sparks, Nevada
In Sparks, located in Washoe County, NV, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the property's market value. For instance, if the median home price in Sparks is $201,436, the assessed value would be a fraction of this amount. Property tax rates are then applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including the property's location, improvements, and any applicable exemptions. In Sparks, tax bills can vary significantly, with the 25th percentile tax bill at $1,448 and the 75th percentile reaching $3,545. High-value properties can see tax bills as steep as $5,000. The highest median tax bill in the area is $3,315 in the 89441 zip code, while the lowest is $864 in the 89431 zip code. These variations can significantly impact homeowners' finances, making it crucial to understand how property taxes are assessed and calculated in Sparks.
Average Sparks Tax Bill
$2,386
Average Washoe County Tax Bill
$2,401
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 |
|---|---|---|---|---|---|
| 89431 | $590 | $684 | $864 | $1,344 | $1,956 |
| 89434 | $837 | $1,418 | $1,792 | $2,493 | $3,706 |
| 89436 | $1,873 | $2,389 | $3,097 | $4,267 | $5,451 |
| 89441 | $1,929 | $2,394 | $3,315 | $4,573 | $5,750 |
Source: Ownwell