[LVguy]

Got mail from Clark county assesssor for 2015 to 2016 property tax, taxable value and total assessed value went up 32% for me. Says if you want to appeal the last day is Jan 15th. But tax won't go up by 32% right? max is 3%? when does that end? for 3% do you guys just pay it or any of you appeal?

Also I don't understand how did it go up 32%, checked recent sales around me and they went down about 5 to 10% vs when I got the house 10 months ago. (Aliante) ya it went down sad to see that, hopefully it gets better next year.

Oh yeah the homestead exemption where do I sign up for that? they mailed it to me before but I can't find it now.

[MSchu]

ASSESSED VALUE... that is pretty straight forward.

property values didn't drop... I don't know where you are getting that information.

[WestieJeff]

Max tax increase is 3% for owner occupied properties. The only way you would reap any benefit is if you could prove the increase is less than 3%.

You also need to look at the absolute numbers, not just the percentage increase. Assessor values lag the market 1-2 years. You may be looking at an increase of 150-190k when your current property is 250k.

It is very unlikely that your house is currently worth less than the assessor taxable value.

[ft_chief]

Originally Posted by LVguy

Got mail from Clark county assesssor for 2015 to 2016 property tax, taxable value and total assessed value went up 32% for me. Says if you want to appeal the last day is Jan 15th. But tax won't go up by 32% right? max is 3%? when does that end? for 3% do you guys just pay it or any of you appeal?

Also I don't understand how did it go up 32%, checked recent sales around me and they went down about 5 to 10% vs when I got the house 10 months ago. (Aliante) ya it went down sad to see that, hopefully it gets better next year.

Oh yeah the homestead exemption where do I sign up for that? they mailed it to me before but I can't find it now.

Make sure your house is registered as an owner occupied residence on your Assessor statement. They can only increase your tax rate 3% per year. This 3% cap is written into Nevada Law. It won't change unless the law changes. Why would you appeal the 3%? You want to pay 8%?

[yellowsnow]

Look at comparable solds in your area. Preferably the last 6 months. Are they up 32%? If you are right and values are not up in your area, you should appeal. Just be sure you can solidly prove values are down. Might help if all the neighbors appeal too. I have done this about 1/2 the years I've lived here and won every time. Compare apples to apples, homes built in the same general time frame/size. The more information you have, the better. If there are no direct comps compare price per SF. That works too.

The best site I've found for doing this is Ziprealty. You can look at everything that's sold within a mile or 1/2 mile of your address.

And file your homestead stuff now! That's going to cost you more than being overvalued.

[SoHoVe]

Does a homestead in NV result in significant property tax break as it does in many other states?
I filed 5 months ago and for some reason what I am paying into escrow just increased this month.

[ft_chief]

Originally Posted by SoHoVe

Does a homestead in NV result in significant property tax break as it does in many other states?
I filed 5 months ago and for some reason what I am paying into escrow just increased this month.

Your homestead exemption has no relation with how much you pay in property taxes. Your escrow went up due to increased property taxes and home insurance rates. My escrow payment has also increased on my mortgage this month.

[airics]

Aliante is definitely not down. I'm around the corner and up easily 20% in the last year