Why did my abatement go away?
The abatement amount is identified on the tax bill. A decrease in assessed value will not result in a decrease in taxes until the prior year`s tax bill plus your tax cap percentage is greater than your actual calculated taxes. In an increasing market you may receive abatement for each year. In a declining or stagnant market your tax bill may eventually increase until there is no abatement for a tax year.
For most properties, fiscal year 2004/05 is the base year for applying the tax cap and calculating the abatement. Although values may have increased in succeeding years, the new law limits the increase to a tax bill to 3% or 8%.
Any increase in value (except increases due to improvement to or changes in the actual or authorized use of the property) that would cause a property owners tax bill to increase by more than 3% or 8% results in an abatement of the taxes.
For parcels created after fiscal year 2004/05, which are designated as "new parcels", the base year would be the year the parcel was created and the abatement and tax cap would apply from that year forward. For properties that are below the “capped values” your taxes will be based on the Assessed value times the applicable tax rate.

Show All Answers

1. What is "real property" or "real estate"?
2. How does the Assessor determine taxable value of real property?
3. What is the appraisal methodology according to Nevada Law?
4. How can my property taxes go up if my property values go down?
5. Why did my abatement go away?
6. What if you disagree with the value the Assessor places on your property?
7. Property tax exemptions: