Nevada Real Estate Tax

I had a client ask me today what the tax rate was for Washoe County Nevada - specifically Incline Village. When folks ask simple questions I like to be able to give simple answers - as figuring out our property tax rate here in Incline Village is a two step process I told them I would send them an email with that information (this is my way of saying ...I need to go back to the office and hunt down this formula and then send it to you).

The Treasure Hunt Begins...I went back to my office and typed in on google Washoe County Property Tax Formula...up came the Washoe County Assessors Site. Unfortunately as you can see from the link it was a "fluffy" description not a formula.

NEXT...  I called two of my more experienced real estate friends who work for two different companies - hey I figure they must have this figure at the tip of thier fingers - they both said "it is a complicated formula I have it written down somewhere".

The Treasure Hunt Continues...  I search some more - find a few blog posts that have nothing to do with the Washoe County Property Tax rate calculations but are more of a rant about the unfairness of the way the amount is calculated HEY THERE ...why don't you put that formula in your rant for those of us who can't find it where it should be on the Assessors website...

JACKPOT! ...I finally found this intelligent, simple article on NV Energy's website (please link to the article as it has so much information).

Here it is...

Property Tax Rate

In Washoe County, the 2007-08 average county wide tax rate is 3.5607.

Calculating Real Property Taxes

The formula for calculating real property tax is as follows:

Taxable Value x .35 = Assessed Value
Assessed Value x Tax Rate = Total Real Property Tax

Please click on the NV Energy website for a more detailed description but Voila! I have found the answer...I know the next question is going to be "What is Taxable Value?".

Thank you to the client who asked the question...it is always enjoyable to research questions my clients pose. Usually the answer is at my fingertips but when it is not A Hunting I Will Go!

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