It is no secret that over the past several years both commercial and residential property values in Clark County, Nevada have plummeted, and in some places, continue to fall. Recently, values have increased in certain areas of the state and foreclosures have slowed. However, despite decreased property values, property taxes have stayed the same or have increased.
It is estimated that nearly 60 percent of all property owners in Clark County are paying too much for their property taxes. Only 2 percent of property owners are taking the necessary actions to contest the taxes in order to reduce the amount they pay.
In the past two fiscal years, I have helped my clients save more than $750,000 in property taxes and reduce their taxable values by over $40,000,000. The January 15, 2013 deadline to contest property taxes for the 2013-2014 fiscal year is rapidly approaching. The appeal period opens in December 2012.
At Lewis and Roca, we help property owners determine whether to take the necessary steps to reduce their property taxes for the coming year. For properties that qualify, we represent property owners in Clark County property tax appeal cases based on a contingency agreement. A contingency agreement means that unless we are successful in helping property owners reduce property taxes, we receive no fee.
If the taxable value of your property exceeds the full cash value, you may be paying too much for property taxes, and you may have grounds to dispute the taxable value and receive a reduction in your property taxes.
For more information about property tax reduction options, please contact Don Martin at (702) 474-2610 or DMartin@lrrc.com.