You buy your very first Las Vegas home and notice that your property taxes are really high. What should you do? It's been an issue for many buyers.
The Assessor will be using all sales up to July 1 of the year before the tax year. For example, for the 2009/2010 year, the Assessor used sales up until July 2008. You can call County Treasurer's Office (702) 455-4323 to find out when the next re-assessment is going to take place and what the assessed value is going to be.
If, in your opinion, the taxable value of your property exceeds the value indicated in the real estate market, please call (702) 455-4997 or come in to the Assessor's Office and discuss your appraisal with an appraiser. The Assessor welcomes the opportunity to review any evidence you can provide that will show the valuation exceeds market value. If, after discussing the matter with the Assessor's staff, a difference of opinion still exists, you may appeal your assessment to the County Board of Equalization. You may obtain the appeal forms from the Assessor's Office during the month of December until the deadline for filing, which is January 15 unless it falls on a holiday or weekend, which then would make the deadline the next business day. Completed forms must be returned to the Assessor's Office by the appeal filing deadline date. Please call 702-455-3891 to have an appeal form mailed to you. The forms are relatively easy so you may represent yourself rather than incur legal expenses.
The Nevada Legislature provides for property tax exemptions to assist individuals meeting certain requirements. Some of these include veterans, disabled veterans, surviving spouses, and blind persons. Nevada also offers a Senior Citizen Tax Assistance/Rental Rebate program to persons 62 years of age or older.
You can read more at: http://www.accessclarkcounty.com/depts/assessor/pages/valuenotice.aspx
Hope that helps!
Showing posts with label las vegas communities. Show all posts
Showing posts with label las vegas communities. Show all posts
Saturday, February 13, 2010
Monday, December 7, 2009
WHAT IS SID/LID? WHY SOME COMMUNITIES IN LAS VEGAS HAVE THEM?
Special assessment for improvement (SID for short and LID is Land Improvement District and applies to Henderson) is a charge financed by the County in the form of bonds to the developer or (homeowners) of the community for the formation of the streets, curbs, lighting, gutters and driveways. It is pretty much a very convenient way for developers to pass on the cost of development to the County and this allows the County to collect interest from financing charges from the future home owner.
The classic example of this use is in Summerlin. Summerlin is a massive Master-planned community, currently the largest in Southern Nevada. When the developers came up with the plan and where the roads, parks, etc. were going to come in instead of paying for the roads and improvements themselves, they acquired bonds from the county and put a rate on each new home that would be built in the community. Basically, without getting too complicated and technical, the County fronted the money to the developers and the developers passed this charge on to the future homeowner. The new homeowner is assessed an amount with interest and pays this charge semi-annually.
In Development, these charges are called "hard costs". If a community is going to be built, then there are requirements such as building streets to the properties. Generally, the developer pays for this and passes on the charge to the new homeowner.
In a Special Improvement District, the charge is financed by the County and then passed on to the homeowner plus interest.
Regardless, whether the charge is added on to the home when the New Summerlin Home Owner buys it or if it is added in the form of a SID afterwards, the charge will be passed on to the New Home owner regardless.
However, there are some major benefits to the way the SID is set up. You'll notice a big difference in the quality of roads and maintenance within a Special Improvement District. Our opinion on this is that the roads and improvements are done by private companies hired by the developers and not overlooked by government agencies. Instead of taking six months to work on a road, it is done in 2 weeks. Very rarely within the community of Summerlin will you see road work being done that takes a year to do; unlike other areas of Las Vegas that do not fall within a Special Improvement District.
It’s set up originally at that amount, but the payoff is less than that. Here’s the link to it: http://amgnv.com/parcelsearch_results_detail_non_pop1.asp?searches=&menu=7&Dist_ID=7051&PARCEL=13726314002
The classic example of this use is in Summerlin. Summerlin is a massive Master-planned community, currently the largest in Southern Nevada. When the developers came up with the plan and where the roads, parks, etc. were going to come in instead of paying for the roads and improvements themselves, they acquired bonds from the county and put a rate on each new home that would be built in the community. Basically, without getting too complicated and technical, the County fronted the money to the developers and the developers passed this charge on to the future homeowner. The new homeowner is assessed an amount with interest and pays this charge semi-annually.
In Development, these charges are called "hard costs". If a community is going to be built, then there are requirements such as building streets to the properties. Generally, the developer pays for this and passes on the charge to the new homeowner.
In a Special Improvement District, the charge is financed by the County and then passed on to the homeowner plus interest.
Regardless, whether the charge is added on to the home when the New Summerlin Home Owner buys it or if it is added in the form of a SID afterwards, the charge will be passed on to the New Home owner regardless.
However, there are some major benefits to the way the SID is set up. You'll notice a big difference in the quality of roads and maintenance within a Special Improvement District. Our opinion on this is that the roads and improvements are done by private companies hired by the developers and not overlooked by government agencies. Instead of taking six months to work on a road, it is done in 2 weeks. Very rarely within the community of Summerlin will you see road work being done that takes a year to do; unlike other areas of Las Vegas that do not fall within a Special Improvement District.
It’s set up originally at that amount, but the payoff is less than that. Here’s the link to it: http://amgnv.com/parcelsearch_results_detail_non_pop1.asp?searches=&menu=7&Dist_ID=7051&PARCEL=13726314002
Subscribe to:
Posts (Atom)
Posts
