Nevada one of the Lowest Property Tax States 2024
Property taxes in Nevada pay for local services such as roads, schools, and police. However, the property tax rates in Nevada are some of the lowest in the U.S. The state’s average effective property tax rate is just 0.48%. Compared to the 0.99% national average, that rate is quite low.
Homeowners in Nevada are protected from steep increases in property tax bills by Nevada’s property tax abatement law, which limits annual increases in property tax bills to a maximum of 3% for homeowners.
Nevada Property Tax Rules
Property taxes in Nevada are based on the market value of a property, as well as the replacement cost of any structures on a property. County Assessors in each county are required to reappraise all property at least once every five years.
The taxable value of a property is calculated as the cash value of the land (the amount the land alone would sell for on the market), and the replacement cost of all buildings minus depreciation of 1.5% per year since construction.
The assessed value is equal to 35% of that taxable value. Thus, if your County Assessor determines your home’s taxable value is $100,000, your assessed value will be $35,000. Tax rates apply to that amount.
Nevada’s tax abatement law protects homeowners from sudden spikes in their property taxes. The law limits increases in property taxes on primary residences to 3% per year. Thus, even if home values increase by 10%, property taxes will increase by no more than 3%.
Nevada Property Tax Rates
Tax rates in Nevada are expressed in dollars per $100 in assessed value. Thus, if your tax rate is $3.25 and your assessed value is $40,000, your total annual tax is $1,300.
There are numerous tax districts within every Nevada county. Clark County, for example, lists 92 different tax districts, with different rates for each district. Thus, when comparing between counties, it is useful to look at average effective rates.
An effective rate is the annual property tax payment as a percentage of home value. The table below shows average effective tax rates, median home value, and median annual property taxes for every county in Nevada.
For an easy overview of a state’s general level of taxation, we calculated each state’s average effective tax rate by dividing the median real estate taxes paid by the median home value, as reported by the U.S. Census Bureau. Essentially, we defined the average effective tax rate as a percentage of the state median home value.
Explore the table below to discover property taxes ranked by state.
| Hawaii | 0.27% | $764,800 | $2,054 | $94,814 |
|---|---|---|---|---|
| Alabama | 0.39% | $179,400 | $701 | $59,609 |
| Colorado | 0.49% | $465,900 | $2,278 | $87,598 |
| Nevada | 0.50% | $373,800 | $1,884 | $71,646 |
| Puerto Rico | 0.52% | $121,800 | $635 | $24,002 |
| South Carolina | 0.53% | $216,200 | $1,138 | $63,623 |
| Delaware | 0.55% | $305,200 | $1,674 | $79,325 |
| Louisiana | 0.55% | $198,300 | $1,087 | $57,852 |
| Utah | 0.55% | $408,500 | $2,241 | $86,833 |
| West Virginia | 0.55% | $145,800 | $809 | $55,217 |
| Arizona | 0.56% | $321,400 | $1,786 | $72,581 |
| Washington, D.C. | 0.56% | $705,000 | $3,957 | $101,722 |
| Idaho | 0.56% | $331,600 | $1,872 | $70,214 |
| Tennessee | 0.58% | $232,100 | $1,356 | $64,035 |
| Wyoming | 0.58% | $269,900 | $1,567 | $72,495 |
| Arkansas | 0.59% | $162,400 | $959 | $56,335 |
| California | 0.71% | $659,300 | $4,694 | $91,905 |
| North Carolina | 0.73% | $234,900 | $1,724 | $66,186 |
| New Mexico | 0.74% | $216,000 | $1,588 | $58,722 |
| Mississippi | 0.76% | $151,000 | $1,145 | $52,985 |
| Virginia | 0.76% | $339,800 | $2,591 | $87,249 |
| Indiana | 0.77% | $183,600 | $1,415 | $67,173 |
| Montana | 0.79% | $305,700 | $2,419 | $66,341 |
| Kentucky | 0.80% | $177,000 | $1,418 | $60,183 |
| Florida | 0.82% | $292,200 | $2,386 | $67,917 |
| Georgia | 0.83% | $245,900 | $2,048 | $71,355 |
| Oklahoma | 0.85% | $170,500 | $1,445 | $61,364 |
| Oregon | 0.86% | $423,100 | $3,633 | $76,632 |
| Washington | 0.88% | $473,400 | $4,158 | $90,325 |
| Missouri | 0.91% | $199,400 | $1,812 | $65,920 |
| North Dakota | 0.99% | $232,500 | $2,294 | $73,959 |
| Maryland | 1.02% | $380,500 | $3,880 | $98,461 |
| Minnesota | 1.05% | $286,800 | $3,000 | $84,313 |
| South Dakota | 1.14% | $219,500 | $2,496 | $69,457 |
| Massachusetts | 1.15% | $483,900 | $5,584 | $96,505 |
| Alaska | 1.16% | $318,000 | $3,687 | $86,370 |
| Maine | 1.17% | $244,800 | $2,855 | $68,251 |
| Kansas | 1.34% | $189,300 | $2,536 | $69,747 |
| Michigan | 1.35% | $201,100 | $2,708 | $68,505 |
| Rhode Island | 1.39% | $343,100 | $4,776 | $81,370 |
| Pennsylvania | 1.41% | $226,200 | $3,187 | $73,170 |
| Ohio | 1.43% | $183,300 | $2,618 | $66,990 |
| Iowa | 1.49% | $181,600 | $2,703 | $70,571 |
| Nebraska | 1.54% | $205,600 | $3,167 | $71,722 |
| Wisconsin | 1.59% | $231,400 | $3,670 | $72,458 |
| Texas | 1.63% | $238,000 | $3,872 | $73,035 |
| New York | 1.64% | $384,100 | $6,303 | $81,386 |
| Vermont | 1.78% | $272,400 | $4,859 | $74,014 |
| New Hampshire | 1.89% | $337,100 | $6,372 | $90,845 |
| Connecticut | 2.00% | $323,700 | $6,484 | $90,213 |
| Illinois | 2.11% | $239,100 | $5,055 | $78,433 |
| New Jersey | 2.33% | $401,400 | $9,345 | $97,126 |
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