residents enjoy various tax advantages by living and doing business in the state of Nevada
Property taxes are calculated by taking the current year tax rate and multiplying it by the assessed value. The assessed value is calculated by taking only 35% of the tax assessor's taxable value of the property. If that amount is greater than a 3% to 8% increase over the prior year’s taxes, an abatement may be applied to limit the increase. The tax assessor’s appraisal of taxable value has historically been well below actual “fair market value.”
Example: 35% of Tax Assessor’s Appraised Value x current tax rate = Annual Property Tax
For more information on property taxes visit www.washoecounty.us/treas or call 775.328.2510.