Variations in Receipt of Benefit
Benefit Varies with Income
The statewide program refunds a maximum of $500 on the property tax paid by eligible senior citizens on their primary residence.
How is Benefit Disbursed
Direct payment to taxpayer
Eligible Property Type
Characteristics of Eligible Property
Only residential property is eligible for this program, a credit report is needed for residence assessed at a value greater than $500,000.
Property Value Limit
Description of Eligibility Criteria
Claimant must be 65 on or before June 30, 2015. Income cannot exceed $23,540 (single) or $31,860 (married). Claimant must have lived and paid property taxes continuously in Nevada from at least July 1, 2015, and be a full time Nevada resident at the time of application. Claimant cannot have their name on any other property, and liquid assets of claimant and spouse cannot exceed $150,000.
Local Option in Adoption of Program
Local government is unable to exercise an option
Local Option Regarding Program Features
Local option regarding program features
State Funding for Local Tax Loss
State reimburses all of the local government tax loss
Description of State Funding for Tax Loss
For 2015-2016 an appropriation of $5 million was made available for property tax relief
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