I just bought a house in Las Vegas and got a great deal.?
Now…How do I get the county to lower the property taxes on it? It origionally sold for 310,00 and I bought it for 115,000. They are charging me an awful lot of money in the impound portion of my payment for taxes, so I am assuming it is being assesed at the origional high price that it sold for. It appraised for 120,000 last week and I have a copy of that appraisal. Anyone know what i need to do? thanks in advance…..
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about 2 years ago
They will automatically reassess once your recorded deed works its way through the system. Not overnight, but almost surely within a few months.
about 2 years ago
If they don’t reassess, the best way might be to ask them for an appeal. Most such appeals, in most jurisdictions, are informal short meetings with the same people who assess the tax. All you usually have to do is bring the appraisal to that meeting and show it to them. It usually only takes a few minutes.
In a lot of jurisdictions an appeal is the only way, because a lot of jurisdictions don’t even take the sales history of the house into account.
about 2 years ago
You go to the city hall in which the property is located and ask to see the tax records for the neighborhood, particuarly the street. It will include the square footage, number of baths, bedrooms, whether basement is finished, etc. Write down any that are similar to yours and that have lower property taxes. Then you prepare a report, go back to city hall and say you would like to dispute the apprisal. If they are all basically the same as yours, you are fighting a battle you can’t win.
I found this online about Las Vegas property taxes:
For most taxpayers it is only common sense that taxes and tax assessments should not be increasing if they are tied to the average sales price of homes. You will find, however, that taxes are rising and that the tax assessor is not in touch with the reality of the market. Logic does not always prevail in an appeal in the property tax system.
For tax dispute appraisers it’s an uphill battle. Massive layoffs are happening in the school systems and State government, and the reliance on property taxes has increased. You can go into a tax dispute hearing armed with great comparable sales, good income data and a sound cost approach analysis and lose your case.
about 2 years ago
You will need to file an appeal with the county property tax board. Bring with you an appraisal for the property done by a professional appraiser. They will review it and normally go with the appraisal.
The tax appeal officers will not lower it to a bargain sale assessment. They will lower it to what other properties of similar amenities and locations are selling for.