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Old 08-20-2007, 09:59 PM
 
788 posts, read 1,973,108 times
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Does anyone know what the property tax rate is there?
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Old 08-20-2007, 10:51 PM
 
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Here's a couple links for you, rwb:

Douglas County Web Page This site will give you access to tax and appraisal information on any property in the county.

This is a PDF Document on Douglas County Quality of Life (http://www.douglascountynv.gov/sites/main/05-06AnnualReport.pdf - broken link) Be warned. This file is something like 5.5 mb. Be prepared if you click on the link.

Now, to answer your question. Property taxes are not figured like it is in some other states. For example, some states just figure it on the sales price at a certain rate, like perhaps 1.25%.

Here it's done differnetly. First, the County appraises the property. The amount they come up with is almost always less than the selling price of the property.

Next, they hit it with a certain factor. In the case of residential property, that factor is 35%. That gives the taxable amount.

The amount that they come up with (appraisal x .35=taxable amount) is the figure that is applied to the millage rate. The millage rate is per each $100 so just divide the taxable amount by 100 and then multiply it by the millage amount. Sounds pretty easy, huh?

Well, here's a rule of thumb after all of that baloney. Figure somewhere between .8 and 1% of your selling price is going to be your property taxes. It all depends on how cheap you bought your house in comparison to the other comps in your neighborhood.

Something else you need to know about your property taxes. First, reappraisals occur about every 5 years. However, they cannot be raised without a limit. There is a 3% cap per year.

That should get you a start.
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Old 08-20-2007, 11:34 PM
 
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Here's another link to help with your property tax question: Click Here
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Old 08-21-2007, 12:01 AM
 
788 posts, read 1,973,108 times
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Thanks again Garth for the info. that pretty much answers my question.
Nice to see it's not as high as I thought.

I know you say you are not a real estate agent but you really should be far to much knowledge to waste.
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Old 08-21-2007, 12:31 AM
 
Location: Dayton
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Garth did a nice job explaining the rules. A couple of refinements, if you want to know.

1. Under the 2005 tax law cap, the buyer gets the seller's appraised value. There is no reappraisal at the time of sale, assuming the house is your primary residence. The rate increase is then capped at 3% for each subsequent year with 2005 being the base year.

2. Again, for primary residences, if you buy at a lower price than the seller's appraised value, you will be billed at the seller's appraised value and you will have to talk to the County Assessor if you want to try to get a lower number.

Not sure about Douglas County, by you may be able to find the Assessor's appraised values online.
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Old 08-21-2007, 12:59 AM
 
1,173 posts, read 4,563,726 times
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Quote:
Originally Posted by jacknevada View Post
Not sure about Douglas County, by you may be able to find the Assessor's appraised values online.
Oh yeah, it's real easy. Here's a direct link to the Assessor's Page: Click Here

You can run just by street name, owner's name, exact address, or parcel number. Your results will give you the owner's info, date of purchase, price they paid, assessed valuation, taxes assessed, if they're behind in their tax payments, and a bunch of other info on the property.

I know that stuff is public knolwedge, but at least it took a little work to get it not too many years ago. It gave some amount of privacy. Now, you can run just a last name and find every bit of property that your neighbor owns in the County. It's just a little too transparant for my tastes.
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