M.W. Schofield, Assessor
| Assessed Value: |
The property value determined
by the County Assessor and used by the Treasurer to calculate a
tax amount. The method of determining the assessed value is specified
in Nevada tax law (NRS 361) and by regulations from the Nevada Department
of Taxation. The assessed value is stored at a rate of 35% of the
taxable value of the property. |
| Assessed Value Ratio: |
35% of the current taxable value. |
| Assessment: |
The valuation of property for tax purposes. |
| Assessment Roll or "Roll": |
A listing of all property and its assessed
value. |
| Assessor: |
The elected official whose legal responsibility
it is to discover, list and value all property in his jurisdiction. |
| Building
Sketch: |
Hand drawn or computerized rendition
of the exterior perimeter of a building used for assessment purposes
in estimating square footage. |
| Improvements: |
All buildings, structures, pools, fences,
etc., fixed to the land. |
| Net Assessed Value: |
The total Assessed Value of all property
less the exempt value of Totally
Tax Exempt Parcels, Personal
Tax Exemptions and any other exempt property. This is the portion
of the total assessed value that will generate revenue for state
and local government. |
| Personal Property: |
All property not defined as real property
(mobile homes, businesses, and airplanes, to name a few). |
| Personal
Tax Exemptions: |
Nevada tax law (NRS 361) entitles qualified individuals
to an exemption of a specified amount of Assessed Value. Blind persons,
surviving spouses, disabled veterans, and veterans of certain wars
may be eligible. The exempted assessed value ranges from $1,000
to $10,000 depending on the type and eligibility of the exemption. |
| Real Estate: |
Land and improvements to the land. |
| Real Property: |
Possession, claim to, or ownership of
real estate. |
| Secured Property: |
Property on which the taxes are a lien
against the real estate, such as land and building improvements. |
| Secured Tax Roll: |
A listing of real property parcels.
This file includes information about parcel ownership and mailing
address, property location, land use and valuation. |
| Special Assessments: |
Direct charges which are against the
property but not included in the Assessor's valuation. |
| Supplemental Value/Tax: |
Value given to new construction completed
after the December Secured Roll Close. Supplemental value may be
billed through the Assessor's Personal Property Division or on the
Treasurer's real property tax bill. When the supplemental value
is merged to the Treasurer's tax bill, it is identified as "Unsecured
Supplemental." |
| Tax Base: |
Total assessed value in a given tax
district. |
| Tax Rate: |
Rate in dollars which when applied
to each $100 of assessed value will give the tax amount. Rates
vary from one district to another depending on the tax base and
the needs of the people in that district. |
| Tax Year or Fiscal Year: |
Most governments operate on a fiscal
basis. Nevada's fiscal year begins July 1 of each year and ends
on June 30 of the following calendar year. Taxes are paid in advance. |
| Taxable
Value: |
Taxable value is the value of property
as determined by the Assessor using methods prescribed by Nevada
Revised Statutes and the Department of Taxation regulations. Generally
speaking, taxable value of real property is the appraised value
of the land and the current replacement cost of improvements less
statutory depreciation. |
| Totally
Tax Exempt Parcels: |
Nevada tax law (NRS 361) exempts all
property owned by federal, state and local governments from taxation.
This includes property for schools, parks, libraries, government
buildings, roads, airports, military installations and other public
areas. The law also exempts churches and some other charitable organizations. |
| Unsecured Property: |
Taxable property which does not attach
to the real estate, such as business equipment and fixtures, mobile/manufactured
homes and airplanes. |
| Unsecured Tax Roll: |
A listing of unsecured property.
This file includes ownership and valuation information about property
such as business equipment and fixtures, mobile/manufactured homes
and airplanes. |
Government
Center, 500 South Grand Central
Parkway, Las Vegas Nevada 89155-1401702-455-3882
(INFORMATION)
