I want to share something important that affects many of you right now. Recently, the Clark County Assessor’s Office mailed out Tax Cap Abatement Notices to residential property owners across the Valley. These postcards ask you to confirm whether your home qualifies as your primary residence so that your property tax increase cap reflects the correct percentage.
What you may not know.
Nevada law limits the annual property tax increase on a primary residence to 3%. This limit gives real tax relief for people who live in their homes. Homes that are not owner occupied, or those with other ownership situations, default to a higher cap of up to 8%.
Many homeowners threw away their Tax Cap Abatement Notice because it looked like junk mail. Unfortunately, if you did not sign and return this postcard, the Assessor’s Office likely set your tax cap at 8% by default. This increased cap can raise your taxes more than the law intended for homeowners who live in their homes.
Here is the good news. You still have the chance to check and correct your tax cap information. The Clark County Treasurer’s Office offers a public property search tool where you can review your tax cap percentage. If the percentage shows 8% and you live in your home, you will probably want to fix that.
What you can do
Once you confirm your cap is incorrect, call the Clark County Assessor’s Office at (702) 455-3882 or visit their official website. They will walk you through the process of submitting updated information so your tax cap reflects your status as a homeowner. You do not lose your right to the lower cap permanently if your tax cap shows 8%right now. Once you notify the Assessor’s Office and they update your status, the 3% cap applies for all future billing years, as long as your ownership situation stays the same.
I mention this because most of my clients care about managing costs smartly. Home values in the Valley have gone up recently, but tax assessments do not need to mimic that rise if your tax cap stays correct. Reviewing your property tax cap now could help you avoid an unnecessary increase and give you peace of mind for the coming year.
If you have any questions about how this works, or if you want help locating your tax cap information online, call or email me any time. I assist many homeowners with property matters like this, and I care about making sure you keep as much of your equity and hard-earned money as possible.
Dulcie Crawford is a native Nevadan, born and raised in Las Vegas. Dulcie is a Community Expert & stays current with updates on market trends & market conditions. A senior Realtor with Signature Real Estate Group, she has sold over 1,300 homes since 1998. You are assured an exceptional experience when buying or selling Real Estate with The Dulcie Crawford Group.
