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Old 08-24-2011, 09:12 PM
 
53 posts, read 136,650 times
Reputation: 50
Default Las Vegas property tax rates?

I've searched a few threads on this forum where people say their property tax rate is around 1%. But I believe my parents just received their first assessment for their new Henderson home and it looked more like 3%. So I found references like Clark County Treasurer's Tax Rate By District (http://trweb.co.clark.nv.us/TaxRate-District/ - broken link) that seem to indicate the average Las Vegas tax rate on the order of 2.5-3.5%.

3% seems extremely high (in "tax crazy" California the rate is a little over 1%). That's almost on the order of annual mortgage interest. Is it really more around 1% or 3%?
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Old 08-24-2011, 09:18 PM
 
Location: NW Las Vegas - Lone Mountain
15,758 posts, read 19,186,883 times
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Quote:
Originally Posted by wwu123 View Post
I've searched a few threads on this forum where people say their property tax rate is around 1%. But I believe my parents just received their first assessment for their new Henderson home and it looked more like 3%. So I found references like Clark County Treasurer's Tax Rate By District (http://trweb.co.clark.nv.us/TaxRate-District/ - broken link) that seem to indicate the average Las Vegas tax rate on the order of 2.5-3.5%.

3% seems extremely high (in "tax crazy" California the rate is a little over 1%). That's almost on the order of annual mortgage interest. Is it really more around 1% or 3%?
Read the fine print. it is 3% of the assessed valuation...which is 35% of the market value.

Ain't that clever?
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Old 08-25-2011, 12:09 AM
 
776 posts, read 889,157 times
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Mine is 1%, in the city of Las Vegas.
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Old 08-25-2011, 12:42 AM
 
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Olecapt is right. It's about 1% of the market value, but officially, the weird math that the assessor uses states that it's about 3% of some made up valuation. I still don't understand it or why they do that.
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Old 08-25-2011, 03:42 AM
 
Location: In the Silver State of Nevada in Las Vegas NV
735 posts, read 568,959 times
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It is still 65% less than what we pay in NYS and I do not need a calculator to figure that one out. You also have a cap on re-assessment we do not. How would you like this 5 years ago my assessment went up $ 56,000.00. Why? sale prices of existing homes in the area and the city needed $$$. No grievance to be won tried but shot down. So moral to the story: I use to complain about my shoes until I meet the person without no feet. Nevada count your lucky stars it can be worse!!!!!!!!!
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Old 08-25-2011, 10:32 AM
 
53 posts, read 136,650 times
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Thanks, the explanation makes sense how it nets to 1%. The actual tax bill does come up around 1% all said and done.

The assessor logic makes sense...NOT! On the Clark County assessor website, I look up the property and the assessed value is pretty close to market value/closing price. But on the actual property tax bill, they use that 1/3 value and say it is the assessment, without any explanation at all of the logic.

I just realized the first quarterly installment was due Aug 15th, with 10 day grace period (today) to avoid penalties. Are they sticklers on penalties if you're a few days late (we're sending in all four installments at once, and no, I also didn't separate the four coupons as they asked...)?
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Old 08-25-2011, 10:35 AM
 
53 posts, read 136,650 times
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Quote:
Originally Posted by wwu123 View Post
Thanks, the explanation makes sense how it nets to 1%. The actual tax bill does come up around 1% all said and done.

The assessor logic makes sense...NOT! On the Clark County assessor website, I look up the property and the assessed value is pretty close to market value/closing price. But on the actual property tax bill, they use that 1/3 value and say it is the assessment, without any explanation at all of the logic.

I just realized the first quarterly installment was due Aug 15th, with 10 day grace period (today) to avoid penalties. Are they sticklers on penalties if you're a few days late (we're sending in all four installments at once, and no, I also didn't separate the four coupons as they asked...)?
Let me correct myself here, the Clark County assessor website has the market value stated as market value, the assessed value has that 1/3rd value indeed. Which still is not comprehensible, but at least consistent....
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Old 08-25-2011, 10:36 AM
 
Location: Sunrise
5,988 posts, read 4,413,919 times
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Quote:
Originally Posted by wwu123 View Post
The assessor logic makes sense...NOT!
That reminds me of a very old proverb:

"If it's being done right, it's probably not being done by Nevada government."
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