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Thursday, September 18, 2014
Assessor

TAX ABATEMENT

The Nevada State Legislature has passed a law to provide property tax relief to all citizens.  NRS 361.4723 provides a partial abatement of taxes by applying a 3% cap on the tax bill of the owner's primary residence (single-family house, townhouse, condominium or manufactured home).  Only one property may be selected in the State of Nevada as a primary residence.  Some rental dwellings that meet the low-income rent limits may also qualify for a 3% cap on the tax bill.

A cap of up to 8% on the tax bill will be applied to residences that are not owner occupied.  The up to 8% cap would also apply to land, commercial buildings, business personal property, aircraft, etc.  New construction or property that has a change of use (zoning change or manufactured home conversion) will not qualify for any cap for this fiscal year but will receive the 3% or up to an 8% cap starting July 1, 2015.

Our Office mails postcards to new homeowners, newly constructed homes, and parcels that have had other changes that may qualify for a 3% cap on their tax bill.  Taxpayers that have already qualified for the 3% tax cap will receive or retain their tax abatement for the 2014/2015 tax year.  The cap will not be applied if your taxes as assessed are lower than the capped tax amount.

Rental Affidavit letters will be sent to all owners of residential rental dwellings (duplex, triplex, fourplex and apartments) in April or May of each year.  This rental affidavit letter will delineate the eligible rental rates to qualify for the 3% cap on the tax bill.  If the owner charges an eligible rent amount (listed on the table below), on all units, they would indicate that rent amount on the affidavit and sign and return it to our Office.

HUD Median Market Rents in Clark County for the 2014/2015 tax year are listed here (Maximum rent allowed for each type of unit according to the number of bedrooms):

 # BEDROOMS

 MEDIAN RENT

Studio

 $519

1

 $668

2

 $841

 $1,300

4

 $1,554

5

 $1,787

Mobile Home Space

 $336

The 2015/2016 U.S. Housing and Urban Development (HUD) amounts will be available in April or May.

 

 

If your refinance does not include an ownership document, your tax abatment will not be impacted.  The Assessor's Office mails new postcards out each May to properties that have had a change in the Document Number or ownership during that fiscal year.

You should contact the Office at (702) 455-3882 if you have any questions.