Property Taxes by State 2025
Why Nevada Property Taxes Are Still a Big Win for Homeowners and Renters Alike (Even in 2025)
When it comes to affordability, Nevada continues to stand out as one of the most tax-friendly states in the country—especially when it comes to property taxes.
Nevada boasts some of the lowest property tax rates in the U.S., and our unique tax structure is designed to keep it that way. One major advantage? Nevada depreciates the taxable value of homes over time. That means while the market value of your home may increase, the assessed value used to calculate property taxes can actually decline, helping to keep your bill lower year after year.
Even better, property taxes in Nevada aren’t based on the sale price of the home, unlike many other states. So whether you bought your home last year or twenty years ago, you won’t be hit with a surprise tax hike just because the market is hot.
And there are caps to ensure things stay predictable:
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For owner-occupied homes, property taxes can’t increase more than 3% per year
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For non-owner-occupied or rental properties, the cap is 8% annually
This stability is a major factor in Nevada’s overall lower cost of living compared to states with more aggressive property tax systems.
But what if you’re renting?
Here’s a common misconception: renters don’t pay property taxes. The truth is, we all pay property taxes—directly or indirectly. Property taxes are factored into rent by landlords, and they also affect local services like schools, fire protection, and infrastructure. So even for the 36% of Nevada households who rent, keeping property taxes in check helps keep overall living costs from spiraling out of control.
Real-Estate Property Tax Rates by State
|
Rank |
State |
Effective Real-Estate Tax Rate |
Annual Taxes on $303.4K Home* |
State Median Home Value |
Annual Taxes on Home Priced at State Median Value |
|---|---|---|---|---|---|
| 1 | Hawaii | 0.27% | $820 | $808,200 | $2,183 |
| 2 | Alabama | 0.38% | $1,148 | $195,100 | $738 |
| 3 | Nevada | 0.49% | $1,472 | $406,100 | $1,970 |
| 3 | Colorado | 0.49% | $1,479 | $502,200 | $2,448 |
| 5 | South Carolina | 0.51% | $1,537 | $236,700 | $1,199 |
| 6 | Arizona | 0.52% | $1,571 | $358,900 | $1,858 |
| 7 | Delaware | 0.53% | $1,607 | $326,800 | $1,731 |
| 7 | Idaho | 0.53% | $1,619 | $376,000 | $2,006 |
| 7 | Utah | 0.53% | $1,608 | $455,000 | $2,412 |
| 10 | West Virginia | 0.54% | $1,628 | $155,600 | $835 |
| 11 | Tennessee | 0.55% | $1,654 | $256,800 | $1,400 |
| 11 | Louisiana | 0.55% | $1,666 | $208,700 | $1,146 |
| 13 | Arkansas | 0.57% | $1,736 | $175,300 | $1,003 |
| 14 | District of Columbia | 0.58% | $1,750 | $724,600 | $4,180 |
| 14 | Wyoming | 0.58% | $1,765 | $285,100 | $1,659 |
| 16 | North Carolina | 0.70% | $2,123 | $259,400 | $1,815 |
| 17 | California | 0.71% | $2,149 | $695,400 | $4,926 |
| 18 | New Mexico | 0.72% | $2,181 | $232,200 | $1,669 |
| 19 | Indiana | 0.74% | $2,251 | $201,600 | $1,496 |
| 19 | Mississippi | 0.74% | $2,235 | $161,400 | $1,189 |
| 19 | Virginia | 0.74% | $2,259 | $360,700 | $2,686 |
| 22 | Montana | 0.75% | $2,275 | $338,100 | $2,535 |
| 23 | Kentucky | 0.77% | $2,322 | $192,300 | $1,472 |
| 24 | Florida | 0.79% | $2,385 | $325,000 | $2,555 |
| 25 | Georgia | 0.81% | $2,461 | $272,900 | $2,214 |
| 26 | Oklahoma | 0.82% | $2,481 | $185,900 | $1,520 |
| 27 | Oregon | 0.83% | $2,516 | $454,200 | $3,767 |
| 28 | Washington | 0.84% | $2,545 | $519,800 | $4,361 |
| 29 | Missouri | 0.88% | $2,655 | $215,600 | $1,887 |
| 30 | North Dakota | 0.99% | $3,010 | $241,100 | $2,392 |
| 31 | Maryland | 1.00% | $3,043 | $397,700 | $3,989 |
| 32 | Minnesota | 1.04% | $3,162 | $305,500 | $3,184 |
| 33 | South Dakota | 1.09% | $3,318 | $236,800 | $2,590 |
| 34 | Maine | 1.10% | $3,332 | $266,400 | $2,926 |
| 35 | Massachusetts | 1.11% | $3,354 | $525,800 | $5,813 |
| 36 | Alaska | 1.14% | $3,445 | $333,300 | $3,785 |
| 37 | Michigan | 1.28% | $3,897 | $217,600 | $2,795 |
| 38 | Kansas | 1.30% | $3,942 | $203,400 | $2,643 |
| 39 | Rhode Island | 1.32% | $3,993 | $368,800 | $4,854 |
| 40 | Pennsylvania | 1.35% | $4,089 | $240,500 | $3,241 |
| 41 | Ohio | 1.36% | $4,131 | $199,200 | $2,712 |
| 42 | Iowa | 1.43% | $4,329 | $195,900 | $2,795 |
| 43 | Nebraska | 1.50% | $4,542 | $223,800 | $3,350 |
| 44 | Wisconsin | 1.51% | $4,594 | $247,400 | $3,746 |
| 45 | Texas | 1.58% | $4,790 | $260,400 | $4,111 |
| 46 | New York | 1.60% | $4,856 | $403,000 | $6,450 |
| 47 | Vermont | 1.71% | $5,176 | $290,500 | $4,956 |
| 48 | New Hampshire | 1.77% | $5,375 | $367,200 | $6,505 |
| 49 | Connecticut | 1.92% | $5,813 | $343,200 | $6,575 |
| 50 | Illinois | 2.07% | $6,285 | $250,500 | $5,189 |
| 51 | New Jersey | 2.23% | $6,770 | $427,600 | $9,541 |
*$303,400 is the median home value in the U.S. as of 2023, the year of the most recent available data.
You can compare the changes from 2022 here.
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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Very Vintage Vegas does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Very Vintage Vegas, will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
Source: WalletHub
