Calculating property taxes

[Oleg Enik]

Hey guys, 

I'm trying to get a better sense of calculating property taxes. As an example, I'm looking at a property in Las Vegas. I went to Zillow and scrolled down to the price and tax history. From where I was able to access the county website. The county website tells me two different numbers: the total assessed value and the total taxable value (attaching a screen shot).

Then, I wanted to find the tax rate for the fiscal year 2021-2022 by clicking on the tax district. So in this case the tax rate is 2.9348 and it is multiplied by each $100 of the assessed value results in the property tax amount. 

So I would take the total assessed value for 2021-2022, which is ($38,915* 2.9348)/100=$1142.08/year. So I would pay $95 in property taxes per month? Is that the correct and accurate way to calculate property taxes when underwriting? Or would I use the total taxable value instead of the assessed value which would result in a monthly payment of $271.92? 

Thanks!

[Theresa Harris]

Most listings will tell you what the property taxes are.  Once you've seen a few, you should be able to get an idea of what they will be by looking at the list price.  Where I am, they are about 1% of the house price.