Nevada Property Tax

How Property Taxes are Calculated in Nevada

Taxable Value x Level of Assessment (35%) = Assessed Value

Assessed Value x Tax Rate = Total Property Tax

THE TAX RATE

The State of Nevada Constitution, limits the property tax rate to 5 cents per $1.00 of assessed value, which equals $5.00 per $100 of assessed value. In the 1979 session, the Nevada Legislature set the property tax rate at no more than $3.64 per $100 of assessed value, where it remains to the present, plus $.02 not subject to the cap.

Local government entity property tax revenues are allowed to be increased by a maximum of 6% per year. The previous fiscal year’s property tax revenue is multiplied by 106%. This amount is then divided by the projected assessed valuation for the upcoming fiscal year to determine the tax rate necessary to generate that amount of revenue.

The taxable value of vacant land is determined by considering the use to which it may be lawfully put. The taxable value of improved land is determined by considering the use to which the improvements are being put. The improvements (i.e. buildings) are valued at present replacement cost less depreciation at 1½ percent per year to 50 years. For personal property, depreciation is based on life expectancy.

If you feel taxes are too high, give your opinion known to your local taxing authorities assessors office.

As a Taxpayer, you possess certain rights. You have the right:

• To an Assessor’s Office with an "open door" policy.

• To a just and equitable assessment of your property, conducted in accordance with Nevada statutes and regulations of the Nevada Tax Commission.

• To prompt and courteous attention from the Assessor’s Office Whenever you have a question concerning any aspect of your appraisal.

• To complete details that set forth the Assessor’s procedures for assessing your property including a copy of your appraisal records.

• To appeal to the County Board of Equalization, the State Board of Equalization and the court system if you feel that your appraisal is incorrect.

• To a notice in the newspaper informing you the year your property is due to be reappraised.

• To have the Assessor’s Office be an advocate to the Legislature on behalf of Taxpayers.

• To an Assessor’s Office that disseminates new laws and information to the public through the media and speaking to civic groups.

• To an appointment with the appraiser who appraised your property for a review of your assessment.

• To be advised by the Assessor’s Office of all of your rights as a taxpayer.