DATE: December 24, 2018
TO: Incline Village & Crystal Bay Property Owners
FROM: Village League Tax Revolt Committee
By now property owners have received their “Christmas Cards” from the Washoe County Assessor informing you of your fiscal year 2019/2020 property assessments. Local realtors have reported that recent sales have pushed property values up, so property tax increases are likely to follow.
Recently we met with our assessor, Mike Clark and his staff, to learn about their assessments throughout our community. Our aim was to uncover what data was collected and how it was applied to determine assessments.
In Nevada only land is assessed at market value, while buildings and improvements on the land are assessed at their replacement cost. Regardless of how much assessments may increase, the maximum increase in taxes for all primary residences is 3%. To be eligible for this 3% limit, you must declare your Nevada home as your primary residence. So if you’ve failed to make that declaration, contact the assessor’s office immediately. Alternately go to www.washoecounty/us/assessor/taxcap.
Overall we are satisfied that the assessor has properly determined assessments throughout Incline Village and Crystal Bay. Some good news is that despite what appears to be a rising market, most single family residential land assessments were left unchanged. Only 4 out of the 21 single family residential neighborhoods had increases from 5 to 11%. However, with higher sales prices most condominiums will see land assessments rise. The median increase is 25%.
There are even a select few condominiums with greater than 40% land valuation increases! We have received extensive data from the assessor’s office and have met with their staff to conduct a detailed review. What is going on at Incline Pines, Forest Pines, Country Club Villas, Brookside, Woodside, Lake Country and a few more neighborhoods? Inventory shortage? Short term rental activity? We don’t yet know. We feel that our assessor must explain the reason for such large increases in so few neighborhoods, and we are confident that he will do so.
Meanwhile, we wish all a Merry Christmas and joyous holidays. We are thankful for your support and look forward to updating you with news as it emerges.
Village League to Save Incline Assets Board Members:
-Todd Lowe, President
-Les Barta, Vice President
-Dale Akers, Secretary Treasurer
-Dean Ingemanson, Director
Village League to Save Incline Assets, Inc.
Non-Profit Corporation – FEIN 88-0399029
77 Shoreline Circle, Incline Village, NV 89451
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