tax cap: Tax Cap Reduction (Clark County - Nevada)
- 10/22/07 10:07 AM
Clark County now has a 3% per year cap for tax increases for primary residences, and an 8% per year cap for many other types of properties, approved at the last legislative session, and based on a base rate of the property's 2004-2005 taxes. That cap rate, in conjunction with the huge run up in property valuations, make for some interesting speculation on exactly what we will pay in property taxes. The property tax cap is based on the amount of taxes billed, and does not limit the amount of increase in assessed value of the property. So while the assessed value … (3 comments)
Clark County now has a 3% per year cap for tax increases for primary residences, and an 8% per year cap for many other types of properties, approved at the last legislative session, and based on a base rate of the property's 2004-2005 taxes. That cap rate, in conjunction with the huge run up in property valuations, make for some interesting speculation on exactly what we will pay in property taxes.;)
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