What is the property tax rate in Storey County?

The combined effective property tax rate in Storey County, Nevada is approximately 0.55%.

Storey County Property Tax Calculator (2026) — Nevada Property Tax Almanac

Property Tax in Storey County, 2026

A calculator and field guide for Virginia City-area homeowners — and for anyone considering a move to Storey County — including Nevada's 35% assessment ratio (NRS 361.225), the 3% annual tax cap (NRS 361.4723) for owner-occupied primary residences (the cap RESETS at sale — new buyers do NOT inherit the seller's capped tax), the constitutional $3.64/$100 max combined rate, no state income tax, and the tiered Disabled Veteran AV reduction (Nevada does NOT provide a categorical full vet exemption — only $35,400 AV reduction for 100% disabled).

Storey County, home to Virginia City and 4k 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 Storey 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. Storey County\'s combined consolidated rate is ~$3.10/$100 of AV (≈$1.08% 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).

The 3% tax cap (NRS 361.4723) is applied to the tax bill — not the assessed value. Each year, the county calculates two numbers: (a) the basic tax (Taxable Value × 35% × rate / $100), and (b) the prior-year tax × 1.03 (low cap) or × the high-cap factor. The TAX BILL is the LOWER of the two. The amount abated by the cap is a meaningful structural protection — in Clark County, the cap abated ~22% of "would-be" taxes in 2021-22 (vs. less than 2% in 2013-14). However, the cap RESETS at sale — new buyers do NOT inherit the seller\'s capped tax, so first-year tax bills can be substantially higher than the seller\'s prior-year bill.

Nevada uses the cost approach to valuation — not market value. Unlike most US states (which use sales comparables to determine market value), Nevada\'s NRS 361.227 specifies that taxable value is the replacement cost of improvements (depreciated 1.5%/year up to 50 years) plus market value of land. This sometimes produces taxable values lower than market values — particularly for older, fully-depreciated homes — which combined with the 35% AR and 3% cap produces Nevada\'s notably low effective rates (~0.50-0.65%). The cost approach also means newer construction is taxed at higher relative values than older homes of equivalent market value.

Nevada does NOT provide a categorical full property tax exemption for 100% disabled veterans — only a tiered AV reduction ($17,700-$35,400 depending on disability percentage). For 100% disabled, the $35,400 AV reduction is ~$1,160 annual tax savings at typical NV rates. Surviving spouses of vets killed in line of duty receive a more-substantial benefit: full exemption up to $2 million AV. Disabled veterans should compare with neighboring states with full exemptions (CA, AZ, OR — all have varied programs).

2026 Storey County rate breakdown ($ per $100 of AV (35% of taxable value, post 3% tax cap), Virginia City district)

Taxing entity	Rate
Combined consolidated rate (~$3.10 / $100 of AV at 35% AR = ~0.55% effective)	3.1000
Combined total	3.1000

As of April 26, 2026 · From Storey County Nevada Assessor's Office.

Note: Storey County is **historically the most-significant county in Nevada** — home to **Virginia City and the Comstock Lode**, the largest silver discovery in American history. The Comstock Lode (discovered 1859) produced approximately $400 million in silver and gold (in 19th-century dollars) from 1859 to 1880, financing much of the Civil War, building San Francisco, and creating Nevada statehood (admitted October 31, 1864 — known as the "Battle Born" state because it joined during the Civil War). Virginia City (~700 residents today) was once the second-largest US city west of the Mississippi (peak ~25,000 in the 1870s). Storey County is also home to the **Tahoe-Reno Industrial Center (TRI Center)** — including Tesla's Gigafactory Nevada (the Tesla facility is technically in Storey County, not Lyon as sometimes reported).

Note: Storey County effective property tax rates run approximately **0.55% — among the lower in Nevada**. Combined consolidated rates run ~$3.10/$100 of AV. Median home values around $475K (relatively high for a small population — driven by the substantial commercial property base from the Tahoe-Reno Industrial Center) combined with the very low effective rate produce median annual bills around $2,613.

Note: For relocation buyers: Storey County offers **the Comstock-heritage rural Nevada** option — substantially preserved historic Virginia City architecture, Reno-area commute via Geiger Grade (~30 min to Reno), and the substantial commercial tax base from TRI Center (which keeps residential rates low). The trade-off: extremely limited residential housing inventory, harsh winter weather (Virginia City is at 6,200 feet elevation), and limited modern commercial amenities outside the historic district.

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.

Cities and towns in Storey County

Storey County contains 4 incorporated municipalities, ranging from Virginia City to the smallest village. Search volume for property tax is often city-specific, so here is the complete list — with population from the 2020 US Census, rounded to the nearest 100.

Data: US Census Bureau, 2020 Decennial Census. Populations rounded. Cities marked as "split" straddle a county border — the portion inside Storey County is subject to Storey County's tax rolls, while the portion outside is subject to the adjacent county's.

City or town	Type	Population (2020)
Lockwood	Census-designated place	1,700
Virginia City County seat	Census-designated place	700
Mark Twain	Census-designated place	700
Gold Hill	Census-designated place	200

About city-level property tax rates: The rate breakdown and calculator on this page reflect the Virginia City tax district. Other cities in Storey County may pay into different school districts, city rates, and special districts — so their combined rates can differ, sometimes substantially. Always verify the specific rates for your address with the Storey County Nevada Assessor's Office before relying on any estimate.

Frequently asked questions

When are Nevada property taxes due?

Nevada property taxes are due in four installments during the fiscal year (July 1 – June 30): third Monday of August, first Monday of October, first Monday of January, and first Monday of March. Bills are typically mailed in July. Late payments accrue interest plus penalty. Most Nevada homeowners pay through escrow via mortgage servicer; some prefer to pay directly to the County Treasurer.

How does the 3% annual tax cap work?

Nevada\'s 3% cap (NRS 361.4723) 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). Each year, the county calculates two numbers: (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.

Why doesn\'t Nevada have a senior property tax freeze?

Nevada does not have a senior property tax freeze (no SB 190 equivalent). Senior 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 the County Assessor between January 1 and March 31. Nevada also has no state income tax — major retiree advantage. The 3% annual tax cap is universal (not senior-specific) and provides meaningful long-term protection for any owner-occupant.

How does the Disabled Veteran exemption work in Nevada?

Nevada does NOT provide a categorical full exemption. Instead, a tiered AV reduction: 60-79% disability = $17,700 AV reduction; 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 receive a separate $3,440 AV reduction. Surviving spouses of veterans or active-duty members killed in line of duty receive a more-substantial benefit: full property tax exemption up to $2 million AV. Apply with County Assessor with VA disability documentation.

Why does Nevada use the cost approach instead of market value?

Unlike most US states (which use sales comparables to determine market value), Nevada\'s NRS 361.227 specifies that taxable value = replacement cost of improvements (depreciated 1.5%/year up to 50 years) plus market value of land. This sometimes produces taxable values lower than market values — particularly for older homes that have fully depreciated improvements. The cost approach also means newer construction is taxed at higher relative values than older homes of equivalent market value. The 35% AR + cost approach + 3% cap combination produces Nevada\'s notably low effective rates (~0.50-0.65%).

How do I appeal my Nevada 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 — Nevada\'s fiscal year runs July 1 to June 30). The CBOE holds informal hearings. Level 2: State Board of Equalization. Within 10 days of CBOE decision. Level 3: District Court. Most appeals are resolved at Level 1.

About Storey County

Beyond the property tax — a few things you might not know about the place.

Weird fact

Virginia City was at peak (1875) **the most-cosmopolitan city west of the Mississippi River outside San Francisco** — with newspapers in 4 languages, a bustling Chinatown, an opera house, the **Territorial Enterprise** newspaper (employing Mark Twain), elaborate Catholic and Episcopal churches, and ornate Victorian residential architecture. The city was nearly destroyed in the **Great Fire of 1875** (October 26, 1875 — burned 33 blocks of downtown) but quickly rebuilt. Today the entire Comstock Historic District is a National Historic Landmark — preserved in something close to its 1880 appearance. Boot Hill cemetery overlooking Virginia City contains the graves of approximately 800 19th-century miners, gunfighters, and townspeople — many with elaborate Victorian gravestones.

Hometown hero

Mark Twain (Samuel Clemens) — at the Territorial Enterprise

The American author Samuel Clemens (1835-1910) worked at the **Territorial Enterprise newspaper in Virginia City (Storey County) from September 1862 through May 1864** — and it was there that he first adopted the pen name "Mark Twain" in February 1863. Clemens had come to Nevada in 1861 (with his brother Orion, the Secretary of Nevada Territory under Governor Nye) and worked initially as a silver prospector. After failing at prospecting, he took a job at the Territorial Enterprise covering the Nevada Territorial Legislature (in Carson City). His Virginia City years are the basis for substantial sections of his memoir Roughing It (1872). The Territorial Enterprise building still stands in Virginia City — preserved as a museum.

Biggest annual event

Virginia City Camel & Ostrich Races + Virginia City International Camel Races

The **Virginia City International Camel Races** (annual, weekend after Labor Day, since 1959) is **one of the most peculiar annual events in the United States** — featuring camel races, ostrich races, and emu races. The event began in 1959 as a hoax by Territorial Enterprise editor Bob Richards (who reported a fictitious camel race that the city then had to actually hold to maintain the joke). The races now draw 25,000+ attendees and are a major Northern Nevada cultural event.

Property Tax in Storey County, 2026