NPTR: Alert 319: Abatements for All

[Nevada Property Tax Revolt Alert Email Group]

Abatements for All

 

ALERT: #319

DATE: December 11, 2021

TO: Incline Village & Crystal Bay Property Owners

FROM: Village League Tax Revolt Committee 

Dear Incline Village & Crystal Bay Property Owners,

Village League officials recently met with the Washoe County Assessor’s staff to review the coming property assessments for 2022.  We never again wish to suffer outrageous and unlawful assessment increases leading to over taxation.  So we conduct this review every year before they send you the results to ensure that land valuations are lawful and fair.  Appraising land in Incline Village and Crystal Bay is difficult.    


Since we began this review process years ago, we can report the assessor’s overall performance as exemplary.  The number of taxpayer petitions for improper appraisals has been low.   Thanks to assessor Mike Clark and his staff for doing their jobs well, complying with the law and applicable appraisal standards.

But prepare for some shocks this year.  Real estate markets in 2021 have catapulted to sky high values. Realtors report sales price increases from +40% to +70% higher compared to last year.   However, the assessor’s increases in single family home land values are conservatively anywhere from +10% to +33%.  Condominium assessments increases are higher, averaging nearly +30%, with some upward of +60%.  The number of condos selling for over $1 million has increased from 1% of all sales to 22%!

But don’t be alarmed. While assessed values may increase dramatically property tax increases do not follow.  Nevada’s abatement legislation limits the rate of property tax increases.  To learn more about our tax cap law you can go to the Assessor’s website TaxCap <https://www.washoecounty.gov/assessor/taxcap/index.php>. 

We forecast most everyone will see property tax abatements in their coming property tax bills.  Therefore, it is essential everyone make sure their abatement level declaration is correct.  Again, go to TaxCap <https://www.washoecounty.gov/assessor/taxcap/index.php> to learn how to check your abatement status and, if necessary, make an update.

 
Village League to Save Incline Assets Board Members:

-Todd Lowe, President

-Les Barta, Vice President

-Dale Akers, Secretary Treasurer

-Dean Ingemanson, Director

 

Village League to Save Incline Assets, Inc.


www.NevadaPropertyTaxRevolt.org <http://www.nevadapropertytaxrevolt.org/>


Village.League at yahoo.com <mailto:Village.League at yahoo.com>
Non-Profit Corporation - FEIN 88-0399029



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