Churchill County, home to Fallon and 25k Nevadans, operates under Nevada\'s constitutionally-fixed property tax system. Residential property is assessed at 35% of taxable value (NRS 361.225) — and taxable value itself is determined by the cost approach (replacement cost minus depreciation), not market value comparables. Tax = AV × tax rate / $100. The Nevada Constitution caps the combined ad valorem rate at $3.64 per $100 of AV (Article 10 §2). NRS 361.4723 caps the year-over-year tax INCREASE at 3% for owner-occupied primary residences (8% for non-owner-occupied). Nevada has no state income tax.
How the bill is built
Nevada property tax follows a 4-step calculation. Step 1: Taxable Value. The Churchill County Nevada Assessor's Office determines taxable value annually using the cost approach: current replacement cost of the improvements (~1.5%/year depreciation, max 50 years) plus market value of the land. Step 2: Apply the 35% assessment ratio. AV = Taxable Value × 35%. Commercial uses 35% same. Step 3: Apply tax rate. Tax = AV × rate / $100. Churchill County\'s combined consolidated rate is ~$3.55/$100 of AV (≈$1.24% effective rate against full taxable value). Step 4: Apply the 3% tax cap (NRS 361.4723). The tax bill cannot exceed last year\'s bill × 1.03 (for owner-occupied primary residences) or × the high-cap factor (up to 8% for other property).
2026 Churchill County rate breakdown ($ per $100 of AV (35% of taxable value, post 3% tax cap), Fallon district)
| Taxing entity | Rate |
|---|---|
| Combined consolidated rate (~$3.55 / $100 of AV at 35% AR = ~0.65% effective) | 3.5500 |
| Combined total | 3.5500 |
As of April 26, 2026 · From Churchill County Nevada Assessor's Office.
Deductions and exemptions for 2026
Nevada homeowner property tax relief is concentrated in three mechanisms: (1) the constitutional 35% assessment ratio (applied automatically — taxable value × 35% = AV), (2) the 3% annual tax cap (NRS 361.4723) for owner-occupied primary residences, and (3) the income-tested Senior Citizen Property Tax Assistance Program for seniors 62+. Notably, Nevada does NOT provide a full disabled-veteran exemption — only a tiered AV reduction.
The 35% Assessment Ratio + Cost Approach Valuation
Nevada Constitution and NRS 361.225 fix the assessment ratio at 35% of taxable value — applied automatically. Unlike most US states (which use sales comparables for market value), Nevada\'s NRS 361.227 uses the cost approach: taxable value = replacement cost of improvements (depreciated 1.5%/year up to 50 years) plus market value of land. This often produces taxable values lower than market values, particularly for older homes.
3% Annual Tax Cap (NRS 361.4723)
Nevada\'s 3% cap limits the year-over-year increase in the property tax BILL to 3% for owner-occupied primary residences (8% for non-owner-occupied / commercial / land). The cap is applied AFTER the basic calculation — each year, the county calculates: (a) basic tax (Taxable Value × 35% × rate / $100), and (b) prior-year tax × 1.03. The TAX BILL is the LOWER of the two. The cap RESETS at sale — new buyers do NOT inherit the seller\'s capped tax. For long-term owners, the cap can produce dramatic savings: a Las Vegas home bought 10 years ago may have a tax bill 30-40% lower than an identical home bought today.
Senior Citizen Property Tax Assistance Program
Nevada\'s primary senior-specific protection is the Senior Citizen Property Tax Assistance Program — a $500-$1,000 annual rebate for seniors 62+ with household income below ~$42,932 (2026, indexed) and 10+ years Nevada residency. Apply with County Assessor between January 1 and March 31. Nevada has no state income tax — major retiree advantage.
Disabled Veteran AV Reduction (partial only)
Nevada provides a tiered AV reduction (NOT a full exemption): 60-79% disability = $17,700; 80-99% = $26,550; 100% = $35,400. At typical NV rates ($3.27/$100 of AV), the 100% reduction saves ~$1,160/year. All wartime vets (regardless of disability) receive a separate $3,440 AV reduction. Surviving spouses of vets killed in line of duty receive a full exemption up to $2 million AV — substantially more generous than the regular vet benefit.
Appealing your assessment
Nevada property tax appeals follow a 3-tier process. Level 1: County Board of Equalization (CBOE). File written appeal by January 15 after receiving the change of value notice (mailed in mid-December each year — Nevada\'s fiscal year runs July 1 to June 30, so notices are sent during the prior calendar year). The CBOE holds informal hearings — present comparable sales or condition documentation. Level 2: State Board of Equalization. If denied, appeal to the State Board within 10 days of the CBOE decision. Level 3: District Court. State Board decisions can be appealed on legal grounds. Most Nevada appeals are resolved at Level 1.