Nevada

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State of Nevada Property Taxes


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State Tax Summary
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The state of Nevada names the real property tax Property Tax and the official value standard states that the Taxable Value “means 1.) the full cash value of the lland, based on the use to which the improvements are being put and 2.) the vlaue of any improvements made on the land determined by subtracting from the cost of replacement of the improvements all applicable decductionsl. The computed taxable value of any property may not exceed its full cash value.”

A bill from the 2005 Session “requires the Department of Taxation, county assessors, and treasurers to provide information on the Internet for property tax, including a description of the assessment process.” A B 128 of Session 2005. The Assessor’s office has 17 government entities and the Treasurer’s office has 17 government entities on the Nevada property tax website http://tax.state.nv.us/property_tax.htm The Nevada Tax Commission oversees the Department of Taxation, as established by Nevada, revised statutes. The Governor, an ex-officio non-voting member, appoints eight citizens to serve on the commission. Each commissioner will serve a four year term and can serve more than one term. The commission is intended to be a group of professional business persons to supervise the operations of the Department of Taxation. Current members are listed with photos on the Nevada Property tax website http://tax.state.nv.us/taxcomm.htm and the Commission meeting agendas are published on the website http://tax.state.nv.us/meetings.htm#taxcomm The state of Nevada, by statute, allows personal exemptions for homeowners, renters, seniors, those with disabilities and veterans. There are five levels in the appeal procedure, beginning on January 15 deadline to file a written petition to appeal with the County Board of Equalization. The San Francisco Area Service Center (ASC) provides tax service for Nevada.

Responsible agency

  • State of Nevada

Contents

  • Taxation Department
  • Assessments Standards Division
  • 1550 College Parkway
  • Capitol Complex
  • Carson City, Nevada 89706
  • Voice (702) 471-2971
  • FAX (702) 471-5608

Property tax calendar

  • Assessment date July 1
  • Valuation Notice Date

Notices are sent annually in November

  • Appeal Deadline

30 days from date of mailing of notice or December 31

  • Bill Payment Date

Four billings: first quarter – third Monday in August; second quarter – first Monday in October; third quarter – First Monday in January; Fourth quarter – first Monday in March. Nevada county level taxing entities may grant a 10 day grace period, when taxes may be paid without penalty. The taxing entities establish the installment amounts. If the total tax bill is $100 or less, the county taxing entity will require the full amount paid on first installment.

Property tax rates and dates

Property tax rates are published in the Nevada Department of Taxation Redbook for 2007. http://tax.state.nv.us/DOAS_FORMS/LGF%20Redbook%202006-07.pdf

  • Annual assessment of real property Yes
  • Classification of property All assessed at 35%
  • Collections Taxes are collected one year in arrears
  • Fiscal year July 1 through June 30*
  • Level of government responsible for assessment County, State
  • Reassessment cycle

Every 4 years

  • Tax Calculation Rate

Appraised Value x 35% = Assessed Value Assess Value x District Rate/100 = Taxes Due

Residential Exemptions

Exemption claims must be filed for a tax assistance or rental rebate program from January 15 to April 30 of each year to receive exemption.

  • Blind Persons exemption

To qualify a blind person must file an exemption with a medical doctor’s statement that the taxpayers has a vision of less than 20/200 in the better eye when corrected, or the field of vision does not exceed an 20 degree angle. The blind exemption is $3000 of assessed value.

  • Homestead

The homestead or dwelling place allows for an exemption. Neveda allows for an exemption from attachment for property tax, up to $98,000, in the event of a personal financial disaster. In addition, there are refunds and exemptions for certain taxpayers, including veterans, disabled veterans, widows, blind persons and senior citizens. Renters may be exempt for accrued property tax that is 8.5% of total rent paid in tax year.

  • Disabled Veterans

For a service connected pernament disability of at least 60%, a veteran may file for exemption for up to $10,000 assessed value for a 100% disabled veterans. A disabled veteran’s benefit may continue after death; and the veteran’s widow may file to recieve the benefits of this program.

  • Senior Citizen Tax Assistance

Any taxpayer 62 years of age or older, whose household income for one year is $19,100 or less, may appear for tax assistance or a rental rebate program. This program is for anyone meeting the age, residency, and income limits regardless of whether the taxpayer owns a home, rents or lives in a mobile home. Filing for the assistance and rebate is from January 15 to April 30 of each tax year. The amount is graduated, based on household income and tax or rents paid.

  • Veterans

An application may be approved for an honorably discharged disabled veteran in a principal residence that served during the war periods of World War I, World War II, Korean War, Vietnam conflict and Desert Storm. The veteran receives an exemption of $1000.

Commercial Exemptions

  • Agriculture Personal Property exemption

Property used for agriculture operations, such as irrigation equipment, water conservation equipment, drainage ditches, canals, livestock and bee colonies are exempt from property taxes.

  • Conservation property

Nonresidential solar energy equipment and facilities built after June 30, 1997 are limited to ten years for qualifying personal property and twenty years for qualifying real property. Energy conserving heating, cooling equipment and systems fueled by solar or wind devises, geothermal resources or energy derived from solid waste conversions or water power are exempt.

  • Economic development

New and existing businesses may qualify for locating or expanding a business in an economic development area in Nevada and may apply for tax abatements of property and/or school taxes.

  • Green buildings

New and existing businesses may qualify for a partial tax abatement for green buildings the meet the energy efficiency . The partial abatement is granted by the Commission on Economic Development, may extend for ten years and may inclde up to 50% of the real property taxes each year.

  • Pollution control property

A taxpayer must file a declaration to exempt property used exclusively for water or air pollution control.

  • Recycling

Local governments may grant abatements for 75% of real and personal property of a qualified business that produces electrical energy from recycled material; or that creates products made of 50% or greater recycled materials.

Tax Collector and Officials

Nevada has a Treasurer-Clerk office to administer and collect taxes on real property. There are 15 combined offices of Treasurer-Clerk in 17 counties in Nevada. Clark and Washoe Counties maintain separate offices. Treasurers and Assessors are elected to four year terms. The Assessor’s office appraises and assesses all taxable property in each county. There are two lower level taxing entities: local improvement and special assessment districts. Lower level lien collecting taxin gentities may place liens and foreclose on properties when there is a tax delinquency. The due dates and power to sell vary by taxing entities. Lower level taxing entities do not grant a 10 day grace period.

Forms

Specific deduction claim forms are available from each county: Carson City, Churchill, Clark, Douglas, Ecko, Esmeraldo, Eureka, Humboldt, Lander, Lincoln, Lyon, Mineral, Nye, Pershing, Storey, Washoe or White Pine.

Forms due dates

Applications for deductions against real property must be filed with an affidavit to the local tax collector in Nevada and were not available on the internet.

State assessor's manual

  • Nevada’s Assessors Manual
  • State of Nebraska Treasury Department
  • Assessments Standards Division
  • Capitol Complex
  • Carson City, Nevada 89710-0003
  • Voice (702) 471-2971
  • FAX (702) 471-5608
  • Price $35.00

How property tax determined

Residential property is assessed at 35% of market value and the assessor determines the fair market value. The assessor may use one of three methods.

  • Cost Approach

At current labor and material prices, estimate how much it would take to replace the property with one similar to it. Use this method when there are no sales of comparable properties.

  • Income Approach

For an apartment or office building, estimate how much income the property can produce.

  • Market Approach

Use other comparable properties that have sold recently, determine the most probable sales price of the subject property.

Appeal Procedure

  • First

Try to resolve the problem in an informal meeting with the tax assessor in the local county, after receiving an assessment notice.

  • Second

Next, if not satisfied with the informal meeting, file a formal appeal in writing with the County Board of Equalizaiton before January 15.

  • Third

Before the first Monday in March, file a formal appeal in writing to the State Board of Equalization.

  • Fourth

If not satisfied, request a hearing before the county’s Circuit Court where the property is located.

  • Fifth

If not satisfied, request a hearing before the Nevada State Supreme Court. All administrative appeals must be exhausted before making any judicial reviews.

Additional tax classifications

  • Agricultural property tax

Rural land is Class I and assessed at 35% of assessed value; Rural improvements at 35% of assessed value.

  • Commercial property tax

None available

  • Mobile homes

Mobile Homes are Class VI and are real property when affixed to land, either on a permanent foundation or any method determined by the assessor. Mobile homes are assessed at 35% of assessed value.

  • Mining

Net proceeds of Mines are Class III; Mining Equipment is Class IV; and Mine/Mill Improvements are Class V and assessed at 35% of assessed value.

  • Urban property tax

Urban Land is Class IX and Urban Improvements is Class X. No assessment value available.

  • Personal property tax

Personal property is Class VII and taxed at 50% of assessed value.

Additional tax bills and charges

  • Construction Work in Progress

An occupancy tax is imposed in Idaho in lieu of proerty tax, on all new construction during the construction year . The tax amount is the same as if the structures were on the assessment rolls on July 1, but prorated for portion of the year based on occupancy

  • Corrected bill

When an error is found on the original tax statement or when property owners go before the Board of Review, resulting in tax increases or decreases, a correct bill is issued when the corrections are made. Corrected bills are also issued when levy rates are wrong, the house is on the wrong tax lot and for homeowner exemption.

  • Delinquent taxes

Delinquent balances are applied to subsequent bills or payment may be rejected at the discretion of the taxing entity. Partial payments for current and prior year taxes are accepted at the discretion of the taxing entity. No notices are sent for delinquent taxes in Nevada.

  • Penalty and Interest charges

Penalties assessed vary by county and taxing authorities, and depends on the number of delinquent or past due installments. Advertising fees are added if not paid by the end of 10 day grace period, after the fourth installment. A reconveyance fee is added are not paid on first Monday in June and the parcel has two or more delinquest tax years.

Current Legislation and Pending Issues

References





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