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Old 02-25-2014, 09:17 AM
 
Location: Cold Springs, NV
4,575 posts, read 9,590,038 times
Reputation: 5035

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My total assessed value has gone from 98,762 to 122,175 in a single year according to the Washoe county website. I thought they could only increase my taxes by 3% per year, so how did my valuation see such a large single year increase?
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Old 03-03-2014, 05:15 PM
 
Location: Reno (Cold Springs) NV
131 posts, read 214,793 times
Reputation: 159
I believe you have to fill out a request card each year to only get a 3%.
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Old 03-03-2014, 05:54 PM
 
Location: Cold Springs, NV
4,575 posts, read 9,590,038 times
Reputation: 5035
Quote:
Originally Posted by Snoop22 View Post
I believe you have to fill out a request card each year to only get a 3%.
Howdy neighbor Snoop,

I just found this:

In 2005, the Nevada State Legislature passed a law to provide property tax relief. Assembly Bill 489, signed into law on April 6, 2005, provides a partial abatement of taxes by applying a 3% cap on the tax bill of the owners primary residence and a higher cap on the tax bill of other properties. Some rental dwellings may also qualify for a 3% cap on the tax bill. The only property that will not be subject to a tax cap will be property that is new to the tax roll this year such as new parcels and/or new construction and parcels with a change in use. At the beginning of May of each year our office mails affidavits to the owners of properties that have been identified as residential rentals. Theses affidavits must be returned by June 15th. An affidavit must be filed every year for residential rental properties.

I was still a bit confuse, so I called the county. While my assessed value increased more than 3% my tax will only increase 3%. Next year if my assessed value doesn't change it will still increase 3% every year until it reaches the % of the initial increase.
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