It is no secret that over the past several years both commercial and residential property values in Clark County, Nevada have plummeted; in some areas, values continue to fall. Despite these decreased property values, property taxes have stayed the same--or in some cases--have increased. It is estimated that nearly 60 percent of property owners in Clark County are paying too much for their property taxes, while only 2 percent are actually taking the necessary actions to contest the taxes and reduce the amount they pay.
Last fiscal year, I helped clients save over $500,000 in property taxes and reduce their taxable values by more than $30 million. The January 16, 2012 deadline to contest property taxes for the 2012-2013 fiscal year is rapidly approaching. The appeal period opens in December 2011.
At Lewis and Roca, our attorneys help property owners determine whether to take the necessary steps to reduce property taxes for the coming year. For properties that qualify, we are currently considering property tax appeal cases in Clark County 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 such 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