Nevada limits how fast property tax bills can rise, and some rental apartments qualify for a tighter cap than most properties. The state has now published the rent figures county assessors use to test that.
What the law says
NRS 361.4724 gives the owner of a residential rental dwelling a partial abatement of property taxes if the rent collected from each resident does not exceed the fair market rent for the county, as most recently published by the U.S. Department of Housing and Urban Development (HUD). The abatement limits the tax bill to the prior year's taxes plus 3 percent, not counting increases from improvements or a change in use. It does not apply to hotels, motels or other transient lodging.
What the Department published
On April 6, 2026, the Nevada Department of Taxation sent county assessors and treasurers a memo with fair market rent tables, built from HUD's 2026 fair market rents. Table IV is for Washoe County and has a standard utility allowance deducted. It lists these monthly figures:
- Single room: $903
- Studio: $1,204
- One bedroom: $1,391
- Two bedroom: $1,749
- Three bedroom: $2,396
- Four bedroom: $2,783
The memo says the Reno Housing Authority is the source for utility allowance data in Washoe County, and that the Department generally recommends using the county tables with the typical utility allowance.
Who this affects
Owners of Washoe County rental properties whose rents are at or below these figures. As written, the statute looks at the rent collected from each resident, so a single unit above its limit may matter. Ask the Assessor how a mixed property is treated.
Effective date
The memo is dated April 6, 2026, and the tables show an update date of March 23, 2026. HUD publishes new fair market rents every year, so the table will change.
What owners should do
- Compare your rent roll by bedroom count with Table IV.
- Ask the Washoe County Assessor whether your property qualifies and how to claim. The statute says a claim follows the method set by Nevada Tax Commission regulations.
- Keep rent rolls and lease records that show what you collected.
- Recheck when HUD and the Department update the tables.
This is a summary, not legal or tax advice. Your accountant or the Assessor can advise on your own property.