FAQs • Lyon County • CivicEngage

How does my assessed value relate to market value?: In Nevada, we appraise land according to its market value, then calculate 35% of that value to arrive at the assessed value. Improvements are based on a replacement cost new less depreciation. In other words, we determine how much it would cost to replace the improvement(s), depreciate it at 1.5% per year to arrive at the taxable value. Then we calculate 35% of that value to arrive at the assessed value. Market value has very little bearing on the taxable value of a property, especially as the age of the improvements increase. The 1.5% depreciation is according to Nevada Revised Statutes and the maximum depreciation allowed on real property is 75%.

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Assessor

1. What is the responsibility of the Assessor´s Office?: Our responsibility is to estimate property values. We do not set the tax rate nor do we collect taxes. It is our duty, by law, to discover all taxable property in Lyon County, appraise its value, then calculate 35% of that appraised value to arrive at the assessed value.

2. Who determines the tax rate?: The tax rate for the individual tax districts is established each spring by the Nevada Tax Commission from budgets submitted by local government entities such as the Fire Protection Districts, School District and others. Services provided by these governmental bodies are a result of those budgets and any questions about government services should be directed to those agencies and not to the Assessor, Treasurer or Board of Equalization.

3. Who collects taxes?: The Lyon County Treasurer collects taxes based on the tax bills sent out each July. Questions regarding taxes paid or amounts due should be directed to that office at (775) 463-6504.

4. What is the difference between the “appraised” value of your property and the “assessed” value of your property?: The appraised value of your land is the Assessor’s estimate of its market value, taking into account its location, zoning, actual use, etc. The appraised value of your buildings is their estimated replacement cost new less depreciation. Your taxes will be based on your total assessed value, which is 35% of your total appraised value.

5. Why would my taxes change?: They change when either your tax rate changes or your assessed value changes. Your assessed value can change because of a boundary change, new construction, change in use, or reappraisal.

6. What is factoring?: There are two types of land factors and improvement factors. Both are used to keep values current. Land factors are determined by sale prices of land in areas and neighborhoods and are applicable to land not currently in the reappraisal cycle. Statistical analysis of sales in an area or neighborhood is used to arrive at a factor for that particular area. Factors can be negative, positive or neutral thereby increasing values, decreasing values or leaving them alone. The Assessor´s Office and the Department of Taxation, Division of Assessment Standards, determine the factors for land and they are taken to the Nevada Tax Commission for approval. The Nevada Tax Commission is responsible for determining improvement factors for given areas around the state and those factors are based on changes in building costs from year to year.

7. How often would my value change?: It could change annually. Each year, all properties will either be reappraised or their previous assessed value could be factored using factors established or approved by the Nevada Tax Commission.

8. How does my assessed value relate to market value?: In Nevada, we appraise land according to its market value, then calculate 35% of that value to arrive at the assessed value. Improvements are based on a replacement cost new less depreciation. In other words, we determine how much it would cost to replace the improvement(s), depreciate it at 1.5% per year to arrive at the taxable value. Then we calculate 35% of that value to arrive at the assessed value. Market value has very little bearing on the taxable value of a property, especially as the age of the improvements increase. The 1.5% depreciation is according to Nevada Revised Statutes and the maximum depreciation allowed on real property is 75%.

9. What if I don't agree with my assessed value?: Assessment notices are mailed in December and June to taxpayers whose value has changed. If you have a question, you may call the Assessor´s Office or come in and talk to an If we are unable to resolve your problem you may appeal to the County Board of Equalization. If you are still not satisfied, you may appeal to the State Board of Equalization, and thereafter, through the court system. Any of these bodies may adjust your assessed value. Appeals to the County Board of Equalization must be filed at the Assessor's Office no later than January 15th or the first business day following January 15th should it fall on a weekend or holiday.