Nevada County Picayune and Gurdon Times Newspaper Archive

Reappraisals complete, notices will be mailed

A reappraisal of real estate in Clark County has been completed, according to information released from Clark County Assessor Kasey Summervilles office, and residents should soon know whether their propertys assessed value has increased.

Reappraisals are mandated by state law to assure fairness and equity in the property tax system, Summerville said. Property owners who have an increase in assessed value will receive notice in the mail. She said about 8,000 notices will be mailed this year.

Residents should not expect to see the entire increase applied to their taxes this year. Summerville said increases on principal places of residence will be limited to a five percent increase each year until the full appraised value is reached. All other property will be limited to a 10 percent increase each year.

Residents who are disabled or are over 65 will not see a raise in their assessed value as their assessments are frozen. These residents may, however, receive notice that their propertys value has increased.

Resident who are disabled or are over age 65 who are not currently signed up to have their propertys assessed value frozen may do so by contacting Summervilles office.

Another change Summerville noted is a change in the homestead credit. For taxes payable in 2008, the homestead credit has been increased to $350. The credit has previously been $300.

Any resident who receives a notice for property taxes that does not indicate that the homestead credit has been applied should contact the assessors office, Summerville said.

For more information on the reappraisal or the homestead credit, call Summervilles office at 246-4431.