How Property Taxes are Calculated in Clark County. (Includes Las Vegas, North Las Vegas, Henderson, Boulder City, Mesquite and Laughlin.)
The Nevada State legislature in 2005 passed a law to provide property tax relief to residents of Clark County. NRS 361.4723 puts a partial abatement of taxes by applying a 3% cap on the tax bill of a residents primary residence in Clark County. Yes.... this can only be applied to one property. However, some types of rental properties that meet low income rent limits may also qualify for the 3% cap for property taxes.
For New Home Buyers in Las Vegas: For a new Las Vegas home that does not qualify for the tax abatement, we'll assume a home with a taxable value of $200,000 located in the city of Las Vegas with a tax rate of $3.50 per hundred of assessed value which would equal .035. (This rate varies all across Las Vegas, Mesquite, Boulder City.. Please see the tax rate table provided.)
To determine the assessed value, multiply the taxable value of the Las Vegas home, $200,000 by the assessment ratio of 35%.
$200,000 x .35 = $70,000 for the Assessed Value. To calculate the tax, multiply the assessed value of $70,000 by the tax rate of .035.
$70,000 x .035 = $2,450 for Annual Taxes.
Seem a little confusing? It is. Luckily, we have access for specific property taxes for any property in Las Vegas. This is something we provide to our Las Vegas buyers when we represent them for a property purchase. We also provide Sid/Lid balances and Association Fees for Las Vegas real estate located in Master planned associaitions so you won't be surprised when these bills come in after you have purchased a property in Clark County!
(Information used for this report has been provided by the Clark County Assessors office and is deemed to be reliable information.)