WHAT THE ASSESSOR DOES NOT DO: NORTHWEST OFFICE …

1 what IS THE HOMESTEAD ACT? what THE ASSESSOR does : Nevada law protects and exempts your The ASSESSOR values all property subject to taxation. The ASSESSOR is required by Nevada law to discover, homestead (dwelling place or manufactured home) against attachment of your property , up to the property owner list and value all property within the County. The INFORMATION property is assessed at 35% of its current appraised amount of $550,000 of your home equity, in the event you should suffer a personal financial disaster. MAIN OFFICE value. In addition to the parcels of real property (land, homes, commercial buildings), the ASSESSOR must value personal property consisting of manufactured To be eligible for this protection, you must obtain CLARK COUNTY ASSESSOR homes; aircraft; businesses, from lavish multi-million and fill out the Homestead Declaration Form.

2 A 500 S Grand Central Pky 2nd Fl dollar casinos to one person operations; and any other form can be downloaded from the ASSESSOR 's Las Vegas NV 89155 personal property which is taxable. The ASSESSOR website: For (702) 455-3882 collects personal property tax only, acting as the tax further information regarding the Declaration of receiver of the County. Homestead, please call our Customer Service Hours: 8:00 5:00 representatives at (702) 455-3882. Monday through Friday what THE ASSESSOR does NOT DO: NORTHWEST OFFICE MICHELE W. SHAFE The ASSESSOR does not make the laws which affect property owners. The tax laws are made by the Nevada CLARK COUNTY ASSESSOR Legislature.

3 The tax rates and guidelines for assessment Do a Maria Plaza are set by the Nevada Department of Taxation. The tax 3211 N Tenaya Way Suite 118 dollars on real property are collected by the elected Dear Taxpayer: Las Vegas NV 89129 County Treasurer. The ASSESSOR does not determine (702) 455-3882 taxes. The preceding information is designed to give you, the taxpayer, a basic idea of the duties of Hours: 8:00 12:00 noon your County ASSESSOR . 12:30 5:00 what IS TAXABLE VALUE? Monday through Thursday It has always been my belief that you, the (Closed Friday). Taxable value is the value of property as determined by taxpayer, have the right to know how your the ASSESSOR using methods prescribed by Nevada government functions.

4 If you have further Revised Statutes and the Department of Taxation questions about Nevada's tax structure, or the regulations. Generally speaking, taxable value of real property is the market value of the land and the laws that govern it, please contact our OFFICE at current replacement cost of improvements less (702) 455-3882. statutory depreciation. Sincerely, HOW does THE ASSESSOR . DETERMINE TAXABLE VALUE? COMMUNICATION DEVICES FOR THE. The appropriate method under current law is that of DEAF replacement cost. Using this method, the ASSESSOR must calculate the amount and cost of materials and labor it MICHELE W.

5 SHAFE TDD SERVICE: Nevada Relay Number would take to replace the subject property . A. Clark County ASSESSOR (800) 326-6868 depreciation factor of 1 % per year is applied to the effective age of the property , up to a maximum of 50. years. Land values are derived from market sales or other recognized appraisal methods and are added to (Rev 7/11) improvement values. property values are updated every year. HOW ARE TAXES DETERMINED? what IF YOU DISAGREE WITH THE TERMS AND DEFINITIONS YOU IMPORTANT DATES FOR. The Nevada State Legislature has passed a law to VALUE THE ASSESSOR PLACES ON SHOULD KNOW: property OWNERS: provide property tax relief to all citizens.

6 NRS YOUR property ? ASSESSOR : The elected official whose legal responsibility provides a partial abatement of taxes by If, in your opinion, the taxable value of your property is to discover, appraise and list all property in her July 1 or Before: Business and aircraft personal applying a 3% cap on the tax bill of the owner 's exceeds the value indicated in the real estate market, jurisdiction. property declarations are mailed. primary residence (single-family house, townhouse, please call or come in to the ASSESSOR 's OFFICE and Assessment: The valuation of property for tax purposes. condominium or manufactured home).

7 Only one discuss your appraisal with an appraiser. The ASSESSOR Assessed Value Ratio: 35% of the current taxable value. July 1: New fiscal year begins. property may be selected in the State of Nevada as a welcomes the opportunity to review any evidence you Assessment Roll or Roll : A listing of all properties primary residence. Some rental dwellings that meet the can provide that will show the valuation exceeds market and their assessed values. July 1 June 15: Filing period for all veterans, disabled low-income rent limits may also qualify for a 3% cap value. Improvements: All buildings, structures, pools, fences, veterans, surviving spouses, blind exemptions to be on the tax bill.

8 Etc., fixed to the land. applied to real property for the upcoming fiscal year. Parcel Number: A unique numeric identifier used to Filing for exemptions on personal property may be done A cap of up to 8% on the tax bill will be applied to If, after discussing the matter with the ASSESSOR 's staff, a inventory and geographically locate each and every on a year round basis. residences that are not owner occupied. The up to 8% difference of opinion still exists, you may appeal your parcel in Clark County. cap would also apply to land, commercial buildings, assessment to the County Board of Equalization.

9 You Personal property : All property not defined as real July 31: All business and airplane personal property business personal property , aircraft, etc. New may obtain the forms from the ASSESSOR 's OFFICE during property (manufactured homes, businesses, and declarations should be submitted to the ASSESSOR 's construction or property that has a change of use the month of December and until the deadline for filing, airplanes to name a few.) OFFICE by this date. (zoning change or manufactured home conversion) will which is January 15 unless it falls on a holiday or week- Real Estate: Land and improvements to the land.

10 Not qualify for any cap for the first fiscal year but will end, which would make the deadline the next business Real property : Possession, claim to, or ownership of 3rd Monday in August: Due date for 1ST. receive the 3% or up to an 8% cap starting the next day. Please call (702) 455-4997 to have an appeal form real estate. QUARTERLY INSTALLMENT OF TAXES. fiscal year. mailed to you. The forms are relatively easy so you may Secured property : property on which the taxes are a lien represent yourself rather than incur legal expenses. against the real estate. 1st Monday in October: Due date for 2ND. The cap will not be applied if your taxes as assessed are Unsecured property : property on which the lien does QUARTERLY INSTALLMENT OF TAXES.