Tagged : washoe county land values 
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Reno Sparks Land Values Down by 40%
Monday, December 22nd, 2008 at 11:24am. 837 Views, 0 Comments.
The Washoe County Assessor is coming out with a report saying values of raw land are down from 30-40% since the height of the market. The shocking fact is that most homeowners will be hit with a 3-5% tax increase this year because of a report that came out stating the replacement values of actual homes and buildings are up. Nevada property tax caps were put in place in 2004 which states that excess property values were not taxed in prior years and can be pulled from abatement to increase taxes by the full 3% to be able to help schools and local governments. Land values in Northwest Reno, Stead, Spanish Springs and other communities north of the river are down by 30%. Large custom homes in the SW Suburban neighborhood are up by the full measure the county…
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