Las Vegas, Washington Property Taxes
The median property tax rate in Las Vegas, WA is 0.68%, which is lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Las Vegas at $462,800, the typical annual property tax bill is $3,165, surpassing the national median of $2,690. Property taxes in Las Vegas are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Las Vegas'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 Las Vegas 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
Las Vegas, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$3,147
$3,074
Ownwell’s Las Vegas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Las Vegas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Las Vegas 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 Las Vegas, Washington
Property taxes in Las Vegas, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Las Vegas is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Las Vegas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Las Vegas 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 Las Vegas's effective property tax rate to other counties in Washington and the national median. For comparison, the 89121 zip code has the highest median property tax rate of 0.68%, while the same zip code also has the lowest median tax rate of 0.68%. Understanding how these cities compare with Las Vegas provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Las Vegas Tax Rate
0.68%
Average Franklin County Tax Rate
0.71%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Las Vegas, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89121 | 0.68% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Las Vegas, Washington
In Las Vegas, Washington, 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 Franklin 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 Las Vegas, 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. The highest median tax bill in Franklin County is $3,165 in zip code 89121, and the lowest median tax bill is also $3,165 in the same zip code. Being aware of these valuation processes in Las Vegas helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Las Vegas Assessed Value
$462,800
Average Franklin County Assessed Value
$384,600
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Las Vegas, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89121 | $462,800 | $462,800 | $462,800 | $462,800 | $462,800 |
Source: Ownwell
Property Tax Bills Across Las Vegas, Washington
In Las Vegas, property tax bills are calculated based on the assessed value of a home, which is determined by the Franklin County Assessor's Office. The assessed value is a percentage of the property's market value. Once the assessed value is established, the property tax rate is applied to calculate the annual tax bill. Several factors influence the assessed value, including the property's size, location, and any improvements made. For homeowners in Las Vegas, the median home price is $462,800. The tax bill for the 25th, 75th, and 90th percentiles all stand at $3,165, which is also the highest and lowest median tax bill in the 89121 zip code. This uniformity in tax bills suggests a consistent application of property tax rates across different property values. Compared to the national median property tax rate of 0.99%, Las Vegas homeowners experience a tax burden that is relatively straightforward and predictable. This consistency can help homeowners budget more effectively and plan for future expenses.
Average Las Vegas Tax Bill
$3,165
Average Franklin County Tax Bill
$2,758
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Las Vegas, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89121 | $3,165 | $3,165 | $3,165 | $3,165 | $3,165 |
Source: Ownwell