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Each Assessor’s office in Nevada estimates the property’s “taxable” value by considering its location, zoning, actual use, etc. Land values are estimated from market sales of vacant property, or other recognized appraisal methods when vacant sales are limited or non-existent. The taxable value of buildings, structures, etc., is the estimated replacement cost new, using approved costing in accordance with the Nevada Administrative Code, less depreciation. The land value is then added to the properties improvements value, if any, to arrive at the property’s overall taxable value. The taxable value arrived at may not exceed the properties “Full Cash” or “Market Value”. If a structure has been removed from the property and the Assessor’s office is notified, the Assessor will delete the value from the assessment. Also, if on or after the lien date there was partial or total destruction of an improvement and the property was rendered unusable for not less than 90 consecutive days, the owner of the property may be entitled to an adjustment or credit.
Property in Nevada is required to be reappraised (revalued) at least once, every five years. All property is revalued annually in Churchill County. The county is divided into five reappraisal areas and one of those areas will be visited annually, within the five year period. Additional appraisals may occur when improvements are added, new structures are built or because of use or zoning changes. Sales or purchases of a property do not require a re-assessment of the property. In the state of Nevada, there are two components to your valuation. The land value set according to current market values (NAC 361.118) and the improvements to the land are valued using the approved Marshall and Swift costing manual and Nevada Tax Commission approved Rural Manual in accordance with the Nevada Administrative Code (NAC 361.128). A depreciation factor of 1.5% per year is applied to the age of the improvements, structures, etc, up to a maximum of 50 years. Land values are derived from market sales or other recognized appraisal methods, in accordance to the Nevada Revised Statutes, and are added to the improvement values. All of these values are updated annually.
During the 2005 session, the Legislatures provided for a partial abatement of taxes by limiting or "capping" the amount a tax bill can increase from year to year. The increase is limited to 3% for an owner occupied primary residence (single-family home, townhouse, condominium or manufactured home) and certain qualified rental properties. Tax bills for all other properties (residences that are not owner occupied, land, commercial buildings, business personal property, aircraft, etc.) are limited to a percentage not to exceed 8%. • If the property is your primary residence within the State of Nevada, the abatement equals the amount of taxes that exceed last year`s tax bill plus 3%. • If the property contains rental unit(s) and the rent on all units within the property are at or below the fair market rent for the county in which the dwelling is located, as most recently published by the United States Department of Housing and Urban Development, the abatement equals the amount of taxes which exceed last year`s tax bill plus 3%. • Most other properties (rental units where the rent exceeds the HUD guidelines, commercial, industrial, vacant land, mixed use, etc.), except as noted below, are subject to an abatement at a higher level, which is calculated by comparing the following:
(1) The greater of: (a) The average percentage of change in the assessed valuation of all the taxable property in the county, as determined by the Department, over the fiscal year in which the levy is made and the 9 immediately preceding fiscal years; (b) Twice the percentage of increase in the Consumer Price Index for all Urban Consumers, U.S. City Average (All Items) for the immediately preceding calendar year; or (c) Zero; or (2) Eight percent, whichever is less. Because the current year tax bill is calculated based on the prior year tax bill, changes in assessed value do not have as much impact on a tax bill (up or down) as they did prior to the law change. The abatement is the amount of additional taxes that would have been owed if not for the tax cap. For a property with a 3% tax cap, if the 2008 tax bill was $1,000 the 2009 tax bill could be no more than $1,030 even if the calculated taxes (assessed value x tax rate) were $1,050. In the example above the $20 difference between the actual tax bill of $1,030 and the calculated tax bill of $1,050 is the abatement. NRS 361.4722 through NRS 361.4733
If, in your opinion, the taxable value of your property exceeds the value indicated in the real estate market, please call or come in to the Assessor’s Office and discuss your appraisal with a certified appraiser. The Assessor welcomes the opportunity to review any evidence you can provide that will show the valuation is unrealistic. If, after discussing the matter with the Assessor’s staff, a difference of opinion still exists, you may appeal your assessment to the County Board of Equalization. You may obtain the forms from the Assessor’s Office during the month of December and until the deadline for filing, which is January 15, unless it falls on a holiday or weekend, which would make the deadline the next business day. Please call (775) 423-6584 to have an appeal form mailed to you. The forms are relatively easy so you may represent yourself rather than incur legal expenses. If the County Board, after hearing your petition, still agrees with the Assessor’s appraisal, you may appeal the County Board’s decision to the State Board of Equalization. If the State Board also agrees with the Assessor’s Office and you still disagree, you may take your appeal to District Court.