Sun Valley, Nevada Property Taxes
The median property tax rate in Sun Valley, NV is 0.70%, lower than both the national median of 0.99% and the Nevada state median of 0.80%. With the median home value in Sun Valley at $108,661, the typical annual property tax bill is $836, significantly below the national median of $2,690. Property taxes in Sun Valley are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Sun Valley'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 Sun Valley 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
Sun Valley, Nevada Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$761
$706
Ownwell’s Sun Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sun Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sun Valley 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 Sun Valley, Nevada
Property taxes in Sun Valley, Nevada, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sun Valley is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Sun Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sun Valley 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 Sun Valley's effective property tax rate to other areas in Washoe County and the national median. For comparison, the zip code 89433 has the highest median property tax rate of 0.70%, while it also has the lowest median tax rate of 0.70%. Understanding how these areas compare with Sun Valley 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 Sun Valley Tax Rate
0.70%
Average Washoe County Tax Rate
1.13%
Average Nevada Tax Rate
0.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sun Valley, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89433 | 0.40% | 0.45% | 0.70% | 1.10% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Sun Valley, Nevada
In Sun Valley, 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 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 Sun Valley, 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 Sun Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Sun Valley are both $836, found in the 89433 zip code.
Average Sun Valley Assessed Value
$108,661
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 Sun Valley, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89433 | $82,473 | $86,562 | $108,661 | $160,818 | $190,363 |
Source: Ownwell
Property Tax Bills Across Sun Valley, Nevada
In Sun Valley, NV, property tax bills are calculated based on the assessed value of a home, which is determined by the Washoe County Assessor's Office. The assessed value typically represents a percentage of the property's market value. For homeowners in Sun Valley, the median home price is $108,661, which serves as a baseline for determining tax obligations. Several factors are considered when calculating the tax bill, including property location, improvements, and any applicable exemptions. The median property tax rate in Sun Valley is 0.77%, which is below the national median of 0.99%. This means homeowners in Sun Valley generally pay lower property taxes compared to the national average. For instance, a homeowner at the 25th percentile pays approximately $384 annually, while those at the 75th percentile pay around $1,866. At the 90th percentile, the tax bill can reach up to $2,508. These variations significantly affect homeowners, influencing their overall financial planning and housing affordability.
Average Sun Valley Tax Bill
$836
Average Washoe County Tax Bill
$2,401
Average Nevada Tax Bill
$1,782
Average United States Tax Bill
$2,690
Property Tax Bills Across Sun Valley, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89433 | $340 | $384 | $836 | $1,866 | $2,508 |
Source: Ownwell