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<DIV align=center><FONT face=Arial color=#ff0000 size=6><STRONG><U>PROPERTY
OWNERS ALERT # 27</U></STRONG></FONT></DIV>
<DIV align=center><STRONG><U><FONT face=Arial color=#ff0000
size=6></FONT></U></STRONG> </DIV>
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<DIV align=left><STRONG><FONT face=Arial color=#000080>Dear
Friends,</FONT></STRONG></DIV>
<DIV align=left><STRONG><FONT face=Arial
color=#000080></FONT></STRONG> </DIV>
<DIV align=left><STRONG><FONT face=Arial color=#000080>For your
information, attached below your will find an article that appeared in
the North Lake Tahoe Bonanza yesterday </FONT></STRONG></DIV>
<DIV align=left><FONT color=#000080><STRONG><FONT face=Arial>reporting
on our success </FONT></STRONG><STRONG><FONT face=Arial>with defending
the Assessor's appeal on the 10% Taxable Value reduction granted to lake
</FONT></STRONG></FONT></DIV>
<DIV align=left><FONT color=#000080><STRONG><FONT face=Arial>front
properties by the County </FONT></STRONG><STRONG><FONT
face=Arial>Board of Equalization. Most of the full time IV/CB
residents will probably have already </FONT></STRONG></FONT></DIV>
<DIV align=left><FONT color=#000080><STRONG><FONT face=Arial>read this
<STRONG><FONT face=Arial>article yesterday. </FONT></STRONG>This
is being sent for the benefit of the many property owners
</FONT></STRONG><STRONG><FONT face=Arial>on our mailing list who do not
live </FONT></STRONG></FONT></DIV>
<DIV align=left><STRONG><FONT face=Arial color=#000080>full time in
IV/CB. </FONT></STRONG></DIV>
<DIV align=left><STRONG><FONT face=Arial
color=#000080></FONT></STRONG> </DIV>
<DIV align=left><STRONG><FONT face=Arial color=#000080>For all
of our out of town owners click on this link to our web site for
all other articles that have appeared in the Bonanza
</FONT></STRONG></DIV>
<DIV align=left><STRONG><FONT face=Arial color=#000080>and the Reno
Gazette Journal:</FONT></STRONG></DIV>
<DIV align=left><STRONG><FONT face="Comic Sans MS" color=#000080
size=2><A
href="http://nevadapropertytaxrevolt.org/NewsArticles.html">http://nevadapropertytaxrevolt.org/NewsArticles.html</A></FONT></STRONG></DIV>
<DIV align=left><FONT face="Comic Sans MS" color=#000080
size=2></FONT> </DIV>
<DIV align=left><FONT face=Arial
color=#000080><STRONG>Regards,</STRONG></FONT></DIV>
<DIV align=left><FONT face=Arial
color=#000080><STRONG></STRONG></FONT> </DIV>
<DIV align=left><FONT face=Arial
color=#000080><STRONG>Ted</STRONG></FONT></DIV>
<DIV align=left><STRONG><FONT face=Arial
color=#000080></FONT></STRONG> </DIV>
<DIV align=left><FONT face="Comic Sans MS" color=#000080 size=2>Ted
Harris, Chairman Tax Revolt Sub- Committee<BR>The Village League
to Save Incline Assets<BR>Ph: 775-831-3914<BR><A
href="mailto:tedgh@nvbell.net">tedgh@nvbell.net</A></FONT></DIV>
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<TD><SPAN class=date>September 17, 2003</SPAN>
<P><FONT class=headingmain>Incline residents claim victory
over county assessor's office</FONT><BR>
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<TD vAlign=top><BR><SPAN class=name>By Rob
Brockmeyer</SPAN></A> </TD></TR></TBODY></TABLE><BR>
<P><SPAN class=body>Those behind the property tax revolt
scored a victory Monday in their quest to roll back recent
increases in assessed value.<BR><BR>Nevada's State Board of
Equalization voted to uphold the Washoe County Board of
Equalization's decision to decrease the Incline Village
lakefront properties assessed value by 10 percent.<BR><BR>It's
a significant accomplishment in restoring equal property tax
representation in Incline Village.<BR><BR>"The decision
illustrates that Incline property taxes are not increasing as
fast as the county assessor thinks," said Ted Harris, who
chairs the taxation committee for the Village League to Save
Incline Assets, the group behind the tax revolt.<BR><BR>County
senior appraiser Chris Mumm said the county will not appeal
the decision.<BR><BR>"You win some and you lose some. The
state looked at our data and compared to others' data and made
their decision. We try to do what is right for all the
taxpayers in Washoe County. It just didn't work out the way we
thought it should have," said Mumm, who has worked for the
assessor's office for 27 years. "The state based its decision
on the sluggish economy and because the current trend in the
housing market showed that property up there is not going up
in value."<BR><BR>A total of 126 properties received the
immediate 10 percent reprieve. Mumm said the county will be
out about $522,766 in tax revenues.<BR><BR>"A lot of lakefront
owners have had their property (market) value stay the same
and some of them have gone down in value," Harris said. "They
appealed their property tax bills and the state took
notice."<BR><BR>Property taxes for Incline residents have
skyrocketed during the past 12 years and residents have
incurred a 15.6 percent compound increase, Harris
said.<BR><BR>According to Harris, the average increase for the
last fiscal year is 29 percent, and in some cases, people's
tax bills have risen 400 percent. One Crystal Bay residence
had its annual property tax jump from $6,900 to more than
$30,000, Harris said. Some lakefront owners have being paying
$20,000 a month in property tax.<BR><BR>The committee blames
an aggressive county assessor's office for making Incline
residents pay high tax rates. The office uses three criteria
to determine assessed value which the committee disputes: time
value adjustments, tear down values and view
classifications.<BR><BR>"These are three ways to figure
property tax which are not used in the rest of Washoe County
and the state of Nevada," Harris said. "That is forbidden by
law."<BR><BR>"It pays to work in a group," committee board
member Wayne Fischer said. "If we would have tried to fight
this as individuals, we would not have accomplished what we
have. It's time to get back our rights. We shouldn't have to
pay two to three times more than what we should. Just because
we live in a beautiful area doesn't mean we can be taken
advantage of."<BR><BR>The next step in the battle against the
state happens today in Carson City. Committee members will
appear in front of the Nevada Department of Taxation to
discuss changing a series of regulations that would affect how
Incline property owners are taxed. The meeting is the second
of six and will focus on two or three proposed regulations
used to govern property taxes in the state. The workshops are
held to refine six or seven regulations, Harris
said.<BR><BR>Harris said at the first workshop, the committee
opposed the basis of the initial changes in the regulations
proposed.<BR><BR>The department of taxation advises and sends
its findings to the Nevada Tax Commission, the ultimate
authority in the state's tax decisions.<BR><BR>"We're excited
that we actually have a say in how we're going to be taxed.
They're listening to us," Harris said. "Eventually, we want to
change the law. The law right now as it stands is not fair.
There is something wrong with the law."</SPAN></P><BR><BR
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