Nevada Property Owners, Don’t Roll the Dice with Property Tax Appeals!

• October 10, 2023
• Carey M. Heyman, CPA

Nevada appraises real property annually.  Owners are informed of the assessed property values, as determined by the Assessor’s office,¹ in writing on or before December 18th.

As we have discussed previously on the blog, changes in assessment value are based on market conditions and recent transaction activity.  The dramatic shift in interest rates and the stigma around the office sector has led to fewer transactions, especially in Las Vegas.  Such market circumstances could lead to intriguing property tax appeal opportunities.  

Appeals in Clark County, which is where Las Vegas is located, are heard before the Clark County Board of Equalization.  In a property tax appeal, testimony and evidence are presented as follows: ²

1. The Assessor will give a brief statement on the purpose of identifying the subject property.
2. The petitioning party will present evidence establishing the value of the property.
3. The Assessor will present evidence supporting the Assessor’s opinion of the taxable value of the property.
4. The petitioning party will present a rebuttal of evidence to what was presented by the Assessor.
5. The Board will be permitted time to ask questions of the petitioning party or the Assessor.

Nevada has a very short window in which to appeal a property assessment – appeals are due by January 15, 2024.  Don’t roll the dice here; reach out to Jack Schindler today!

¹  Nevada Revised Statutes 361.000

²  Clark County Board of Equalization

Tags: Assessor, Board of Equalization, Clark County, Interest Rates, Las Vegas, Nevada, Office, Property, Property Tax, Property Tax Appeals, Property Value, Real Property, Federal and state taxation, including proposed regulations, Industry best practices, Industry trends/analysis, Year-end tax planning | Comments Off on Nevada Property Owners, Don’t Roll the Dice with Property Tax Appeals!