Florida vs Nevada
Property‑Tax Comparison: Florida vs. Nevada
Brief overview
Both Florida and Nevada are popular destinations for homeowners and retirees, but their property‑tax burdens differ. According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), Nevada’s effective property‑tax rate is lower than Florida’s, while median home values are higher in Nevada. The table below presents the key metrics side by side.
Side‑by‑side comparison
| Metric | Florida | Nevada |
|---|---|---|
| Effective property‑tax rate | 0.79 % | 0.49 % |
| Median home value | $325,000 | $406,100 |
| Median annual property tax | $2,555 | $1,970 |
| Property tax on a $250k home | $1,966 | $1,213 |
| Property tax on a $500k home | $3,931 | $2,425 |
| Median household income | $71,711 | $75,561 |
Sources: According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates).
Which state “wins” on property tax?
Nevada records the lower effective property‑tax rate (0.49 % vs. 0.79 %).
- Rate difference: 0.30 percentage points, which is a 38.30 % lower rate relative to Florida.
- Annual tax difference on a $250,000 home: $753 less in Nevada.
- Annual tax difference on a $500,000 home: $1,506 less in Nevada.
Because the comparison is based solely on the effective tax rate, Nevada is the winner in terms of lower property‑tax burden.
Who benefits most from this comparison?
| Audience | Relevance of the data |
|---|---|
| Current homeowners | Lower annual taxes in Nevada can reduce ongoing housing costs, especially for owners of higher‑valued properties. |
| Prospective homebuyers | The tax differential may influence purchase decisions where comparable homes are available in both markets. |
| Retirees | Since retirees often rely on fixed incomes, a lower property‑tax rate (Nevada) can affect overall affordability. |
| Investors | Property‑tax rates affect cash‑flow calculations; Nevada’s lower rate may improve net returns on rental properties. |
| Policy analysts | The figures provide a baseline for evaluating state‑level tax policy and its impact on household finances. |
The comparison is most useful for individuals and professionals evaluating the cost of homeownership or investment in either state.
References
- Data source: According to U.S. Census Bureau data, the 2023 American Community Survey (5‑year estimates) provides the effective property‑tax rates, median home values, and median household incomes used in this analysis.
- Further reading:
Based on the most recent ACS estimates, Nevada’s lower effective property‑tax rate translates into a measurable annual savings for homeowners relative to Florida.
Explore More Comparisons
Discover how property taxes compare across all states in our comprehensive comparison guide.
Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.