If you’re thinking about buying a home in Las Vegas, Nevada, learning about the property taxes in the area will help you prepare ahead.
Nevada has one of the cheapest real estate tax rates in the country due to the property tax abatement law that protects homeowners from severe property tax rises by limiting yearly property tax bill growth to a maximum of 3% across the state.
- The market value is used to calculate property taxes in Nevada.
- Every five years, county assessors are obligated to reappraise all properties.
- Nevada’s property tax abatement law shields homeowners from significant increases in property taxes by capping annual increases on primary houses at 3%.
- According to Nevada’s tax abatement law, property taxes can rise only by 3%, even if home values increase by more than that.
How much is property tax in las vegas
Your tax district determines your property tax rate in Las Vegas, NV. A tax district is an area within a county-designated for taxation purposes. There are currently 92 distinct tax districts in Clark County, where Las Vegas is located. Each district’s tax rate is determined by the money allocated to government-provided services, including schools, police, fire, parks, libraries, and capital projects.
For the fiscal year 2021-2022, the property tax rate for Tax Districts 200, 203, 204, 206, 207, 208, 210, 212, 213, and 214 is 3.2782.
For 2021-2022, the property tax rate for Tax Districts 250, 253, 254, 255, 256, and 257 is 3.3544.
Tax District 257a’s property tax rate for the fiscal year 2021-2022 is 3.1844.
This link will take you to a page where you may learn more about each tax district.
What months are property taxes due
Collection of Property Taxes
Each year in June, tax rates are determined. Each year, by August 1st, tax bills are generated and mailed out. The third Monday in August is when property taxes are due. If the taxes on a parcel exceed $100.00, the property owner may choose to pay in installments.
Tax bills are only sent out once a year.
If you buy real estate during the tax year, you’re accountable for any taxes that haven’t been paid by the time escrow closes.
The following are the installment due dates for the fiscal year 2021-2022:
(July 1, 2021, to June 30, 2022)
1st Installment :
Due Date: Monday, August 16, 2021
Last Day to Pay without Penalty: August 26, 2021
2nd Installment :
Due Date: Monday, October 4, 2021
Last Day to Pay without Penalty: October 14, 2021
3rd Installment :
Due Date: Monday, January 3, 2022
Last Day to Pay without Penalty: January 13, 2022
4th Installment :
Due Date: Monday, March 7, 2022
Last Day to Pay without Penalty: March 17, 2022
The Clark County Tax Assessor-website Collector has further information regarding Las Vegas, Nevada property taxes.
As a homeowner, it is crucial to be aware of the property tax rate in your area. This will help you prepare your finances. Moreover, if you don’t pay your taxes, the local government will place a tax lien on your property that must be paid within a specific amount of time, or the parcel may be foreclosed.
If you have additional queries about the property tax in Las Vegas, NV, feel free to give me a call.