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Old 12-25-2008, 10:51 PM
 
Location: Here and there, you decide.
12,908 posts, read 27,894,120 times
Reputation: 5050

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I just opened my notice of value for my home and it appears that my taxes should go down...
prior year it was valued at 120764 (assessed), district 200 - rate 3.2714 = 3950.67 before the cap cost reduction 867.42 (which i dont understand).- I am currently paying 3083.25... the new value is now 84508 same rate which equals 2764.59 before the cap cost reduction (if any).. so the way i see it, my taxes will be lowered at least $319. to 2764.

Am i correct?
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Old 12-26-2008, 05:44 PM
 
Location: Las Vegas
444 posts, read 1,609,728 times
Reputation: 185
There was a post on here by the Clark County Tax Assessor last month if you'd like to search for it. I also did a google search about Clark County Las Vegas Nevada real estate tax assessments last month that allowed me to better understand how it is all calculated. I also called the Clark County Tax Assessor's office last month to verify my findings, they were extremely courteous and helpful. Yes your taxes will be going down after June of 09. How much? A little finger work with the three searches above will probably pinpoint it for you. It may also go down in June 10. Good Luck with your research. I'm sure it'll give you reason to celebrate New Years Eve, lol.
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Old 12-30-2008, 01:41 PM
 
Location: Here and there, you decide.
12,908 posts, read 27,894,120 times
Reputation: 5050
i talked to the assessor dept today, woman was complaining how many calls she was taking (she took 120 last friday.. aww too bad).. anyway told me to fill out an appeal form and then i have to go in front of a board to state my case.... Anyone been through this?
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Old 12-30-2008, 03:32 PM
 
5,595 posts, read 19,003,314 times
Reputation: 4816
Last year I was hopping mad when I received my assessment. When I called the assessors office and asked questions and also how to appeal, the lady on the phone told me it probably wouldn't do me any good because of the "cap" and even though my assessed value was going up when my property value was going down, the "cap" would prevent my taxes from being increased.

She told me it wouldn't be worth it to appeal.

Well, I'm going to see this year if my actual taxes decrease significantly because if they don't, I WILL appeal this time.

So yeah, I too would be interested in anybody who has been through the process.
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Old 12-30-2008, 07:06 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,084,689 times
Reputation: 2661
Quote:
Originally Posted by airics View Post
I just opened my notice of value for my home and it appears that my taxes should go down...
prior year it was valued at 120764 (assessed), district 200 - rate 3.2714 = 3950.67 before the cap cost reduction 867.42 (which i dont understand).- I am currently paying 3083.25... the new value is now 84508 same rate which equals 2764.59 before the cap cost reduction (if any).. so the way i see it, my taxes will be lowered at least $319. to 2764.

Am i correct?
Well yes you are correct except they may change the rate and cost you a few bucks.

But what are you gonna appeal?

The cap reduction is driven by statutory maximum increases in rates. ie your owner occupied taxes can only go up 3% per annum. So if your taxes based on assessed valuation are higher than the max allowed you get a cap reduction.

With the fall in values your house is now out of that range. so you no longer get a cap reduction. However when things turn around and your value goes up your taxes can't go up more than 3%.

Carson city gives and taketh away...and seldom unders what happens next.
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Old 12-31-2008, 08:05 AM
 
Location: Las Vegas
444 posts, read 1,609,728 times
Reputation: 185
Bottom line is ... if the actual tax rate were reflective of the budgets, this whole 'cap' adjustment would not have been necessary to begin with. They should have adjusted the tax rate up/down to be reflective of the cost of living etc.

If you can go back to before the rise in housing prices, you will most likely see that the cap saved you a ton of money in the high years. Now its capped to a 3% increase compared to the previous years taxes.

With all of the increase this past year in operations expenses like gas, health insurance, heating/cooling costs, etc., I'm still happy to pay only a 3% increase.

I hope you make some progress and let us all know. I also live in district 200. So wave when you get online.
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