Each year property taxes are calculated based o the assessed value times the tax rate. This calculation is compared to the prior year's tax bill plus the cap (either 3% or 8%). Whichever value is lower, will be the taxes for the current year.
Values in Carson City have dramatically fallen over the last few years. However, they have not fallen to pre 2004 year which was the "base year value" established by the Nevada Legislature for the property tax cap. In a rapidly increasing real estate market, like we experienced in the 2000's the difference between the taxable value of your property and the actual market value was substantial. In many cases, the cap between the taxable value and the base year value still exits, in these instances properties will still see an increase in their tax bill even though their values did in fact decrease. The increase will not exceed the determined tax cap.
Please see "How are taxes calculated" for further information (below is the link).
As always, the staff at the Carson City Assessor's office is here to answer any questions that you may have regarding your assessment. Please feel free to contact us at 775-887-2130 or you may email us at firstname.lastname@example.org .
If you would like to have a better understanding of your assessment notice, please click on the option below.
Understanding Your Assessment Notice