Washoe County Treasurer Provides Update in Response to New Federal Tax Laws

Tammi Davis
Tammi Davis. Photo: Washoe County

WASHOE COUNTY NEWS RELEASE

In response to new Federal tax laws, Washoe County Treasurer Tammi Davis, is providing the following information related to payment of property taxes:

  • Nevada property taxes are levied and billed on a fiscal year cycle: July 1 – June 30.
  • Fiscal year 2017/2018 property taxes were levied on July 1, 2017 and are currently being collected.
  • Nevada property taxes are due on the third Monday each August (Aug. 21, 2017). State law provides that any tax bill in excess of $100 for the year may be paid in four installments. For 2017/2018 those installment due dates are Aug. 21 & Oct. 2, 2017 and Jan. 1 & March 5, 2018.

    • A property owner may choose to pay in full or take advantage of the four installments. NRS 361.48
  • The Treasurer’s Office cannot provide income tax advice, as individual circumstances may vary. However, it is common for owners to pay their property taxes for the fiscal year in full by Dec. 31 of a given year, presumably for the income tax benefits.

    • Please consult your tax professional or the IRS about your specific circumstances.
  • Property taxes for fiscal year 2018/2019 will not be levied until July 1, 2018.

The Treasurer’s office does not accept payments in advance for taxes not yet levied.

The Internal Revenue Service issued this statement regarding prepaid real property taxes:

https://www.irs.gov/newsroom/irs-advisory-prepaid-real-property-taxes-may-be-deductible-in-2017-if-assessed-and-paid-in-2017

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