U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
 
Old 04-25-2011, 10:41 PM
 
179 posts, read 207,634 times
Reputation: 35
About property taxes, when buying a property, I had the offer written to have on the bottom listed everything to be included in the sale - so each kitchen appliance and then some personal items they were leaving behind which included a TV and stereo, a couple of furniture pieces. The appraisal still came in at the price and the mortgage was not affected by having those items listed separately in the offer. After the sale, the tax assessor office of course set the value to the sales price and sent out the supplemental tax bill. Later I then did a request to have it re-assessed at a lower value, based on the listed items being considered personal property, not real estate. So then they lowered the assessed value by maybe $10,000, which isn't a lot, but it did help lower the taxes and set the baseline assessed value slightly lower than the actual purchase price. But that is something that helped a little to get the first year property tax assessed value down. Even if it was only around 1%, that would still be $100 less in property taxes that year and subsequent year since they raised each year coming upwards from that first year baseline number.
Reply With Quote Quick reply to this message

 
Old 04-26-2011, 01:21 PM
 
Location: NW Las Vegas - Lone Mountain
15,757 posts, read 19,993,769 times
Reputation: 2661
Quote:
Originally Posted by Sheryl_Jones View Post
About property taxes, when buying a property, I had the offer written to have on the bottom listed everything to be included in the sale - so each kitchen appliance and then some personal items they were leaving behind which included a TV and stereo, a couple of furniture pieces. The appraisal still came in at the price and the mortgage was not affected by having those items listed separately in the offer. After the sale, the tax assessor office of course set the value to the sales price and sent out the supplemental tax bill. Later I then did a request to have it re-assessed at a lower value, based on the listed items being considered personal property, not real estate. So then they lowered the assessed value by maybe $10,000, which isn't a lot, but it did help lower the taxes and set the baseline assessed value slightly lower than the actual purchase price. But that is something that helped a little to get the first year property tax assessed value down. Even if it was only around 1%, that would still be $100 less in property taxes that year and subsequent year since they raised each year coming upwards from that first year baseline number.
I don;t think you have your numbers quite correct. A 1% drop in assessessed value will lower your taxes about 1%. It would take a million dollar home for 1% of taxes to be a $100.

Assessed valuation is not based on the prior years assessed valuation. It is calculated from a model for the area. The tax growth rate is limited by prior value...but that is not an issue at the moment.
Reply With Quote Quick reply to this message
 
Old 04-26-2011, 04:22 PM
 
179 posts, read 207,634 times
Reputation: 35
Quote:
Originally Posted by olecapt View Post
I don;t think you have your numbers quite correct. A 1% drop in assessessed value will lower your taxes about 1%. It would take a million dollar home for 1% of taxes to be a $100.

Assessed valuation is not based on the prior years assessed valuation. It is calculated from a model for the area. The tax growth rate is limited by prior value...but that is not an issue at the moment.
I meant to say it was $10,000 less that they used as the assessed value, thus if the tax rate was 1%, just using 1% as the example, then $10,000 less value times 1% was how I was figuring the $100 less in property taxes for that year. I meant to say $10,000 x 1% (if that were the tax rate for example's sake only) equals $100 less in yearly taxes - because I had them lower whatever you call the amount they take times the tax % by $10,000, citing the sales contract showing that refrigerator, stove, dishwasher, TV set, stereo, sofa, a few other things were personal, not real estate property, which was the reason they went ahead and lowered the base value (or whatever you call it in real estate terms) for me.
Reply With Quote Quick reply to this message
 
Old 04-26-2011, 07:02 PM
 
10,481 posts, read 14,129,649 times
Reputation: 6349
This is kind of a bizarre story. This guy just messed his life up, and over what? Keep an eye out for these crazy school teachers:

Middle school teacher opens fire on reality show film crew - KTNV ABC,Channel 13,Las Vegas,Nevada,News,Weather,Sports,Entertainment,KTN V.com,Action News .:. (http://www.ktnv.com/story/14519994/middle-school-teacher-opens-fire-on-reality-show-film-crew - broken link)
Reply With Quote Quick reply to this message
 
Old 04-26-2011, 07:28 PM
 
Location: Beautiful Upstate NY!
12,246 posts, read 16,436,731 times
Reputation: 5639
Think of the good side...one new prospective teacher can now transfer in the CCSD.
Reply With Quote Quick reply to this message
 
Old 04-26-2011, 07:37 PM
 
5,090 posts, read 5,714,087 times
Reputation: 5762
Default Veni, vidi, vici

Well, I'm outta here in a couple of hours. First the redeye to Miami and then off to Spain & Rome a couple of days later. See you all in about a month.
Reply With Quote Quick reply to this message
 
Old 04-26-2011, 08:04 PM
 
Location: Las Vegas
3,731 posts, read 5,639,550 times
Reputation: 1234
Quote:
Originally Posted by MadManofBethesda View Post
Well, I'm outta here in a couple of hours. First the redeye to Miami and then off to Spain & Rome a couple of days later. See you all in about a month.
You're gonna love it, MMOB!!! Enjoy!
Reply With Quote Quick reply to this message
 
Old 04-26-2011, 08:11 PM
 
Location: Orlando, Florida
5,441 posts, read 6,725,213 times
Reputation: 3234
Quote:
Originally Posted by MadManofBethesda View Post
Well, I'm outta here in a couple of hours. First the redeye to Miami and then off to Spain & Rome a couple of days later. See you all in about a month.
Have fun
Reply With Quote Quick reply to this message
 
Old 04-26-2011, 09:55 PM
 
Location: Home!
8,690 posts, read 6,780,319 times
Reputation: 8429
Quote:
Originally Posted by MadManofBethesda View Post
Well, I'm outta here in a couple of hours. First the redeye to Miami and then off to Spain & Rome a couple of days later. See you all in about a month.
Bon Voyage!!!!!
Reply With Quote Quick reply to this message
 
Old 04-26-2011, 10:44 PM
 
Location: Beautiful Upstate NY!
12,246 posts, read 16,436,731 times
Reputation: 5639
Break a leg.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2011 data
Loading data...

123
Hide US histogram

Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
Similar Threads

All times are GMT -6. The time now is 12:17 AM.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top