Real Property Valuation: How is This Determined

I thought it would be interesting to explain to home owners how ones property tax is determined by the Washoe County Assessor:

When is the next tax year? Each tax year runs from July 1 to June 30.

What is taxable value?  Taxable value is the full cash value (market value) of the land and the current replacement cost of buildings, etc. less statutory depreciation.

What is included in Buildings, etc.?  The legal definition of buildings includes all structures affixed to the land.  This includes items such as wells, septic systems, corrals, pavings, mobile home utility hook-ups, etc

What is assessed value? Per NRS 361.225, the assessed value is 35% of taxable value.

Is there any type of assistance available for individual taxpayers?  Exemptions are available to bona fide Nevada residents meeting certain criteria such as:  surviving Spouse, Veterans, disabled Veterans and Blind people.  For more information call

775-328-2277

Why did my value increase by more than 3% or 5%  ? Nevada Revised Statutes 361.471 through 361.4735 provides for an abatement (cap) on taxes NOT on assessed value . To review “tax cap” statues please contact our office at 775-328-2277 or visit our website at www.washoecounty.us/assessor/cama

What is listed as NEW TO ROLL on this notice?   Any new value due to new construction or a change in actual or authorized use.

What if I disagree with the taxable value?  If you have any questions, please contact this office as soon as possible,preferably within 10 days, at 775-328-2233.  If they are unable to resolve matters to your satisfaction, you may appeal to the County Board of Equalization.  Such appeals must be filed at the Assessor’s Office by January 15, 2013.

What if I disagree with New To Roll, Remainder Values or the partial abatement(“Tax Cap”) statues?

You may petition (appeal to) the Assessor or review these abatement decisions pursuant to Nevada Revised Statue  361.4734.  Please call our office at 775-328-2233 or visit our website at www.washoecounty.us/assessor/abateappeal for additional information and the filing deadline.

In the near future the secured tax roll list will be available at Washoe County Libraries, at the Assessors office and on their website: www.washoecounty.us/assessor before January 1st 2013