Instructions for Completing Declaration of Value Form
INSTRUCTIONS FOR COMPLETING:
Incomplete Forms Will Be Returned Unrecorded
1. ASSESSOR PARCEL NUMBER: List all Assessor Parcel Numbers pertaining to document. (This number may be obtained from the Assessors Office at 775-463-6521)
2. TYPE OF PROPERTY: Check all applicable types of property for each Assessor Parcel Number listed.
3. TOTAL VALUE/SALES PRICE OF PROPERTY: (If an exemption is being claimed or the transaction is non-taxable due to Court Order or Will, go to #4.)
Total Value/Sales Price of Property: Enter the full purchase price or value of the property. If current value is not known, the recorder’s office will use either the assessor’s appraised value or last sales price, which ever is greater.
Deed in Lieu of Foreclosure Only: Call us at 775-463-6581 for instructions.
Transfer Tax Value: Enter the amount shown on line 1 (less any amount shown on line 2 for Deeds in Lieu).
Real Property Transfer Tax Due: The value is computed at a rate of $1.95 per $500.00 or portion thereof of cash value.
4. IF AN EXEMPTION IS CLAIMED:
A) If you are using an exemption, write the exemption number from the list of Exemptions. If due to Court Order or Will indicate under 4B.
B) State the reason for the Exemption claimed or reason non-taxable.
5. PARTIAL INTEREST: Enter portion of interest being conveyed. If only a portion of interest is being conveyed, compute tax on the portion transferred.
6. SIGN THE FORM: This form requires a signature. It is preferred that both parties complete and sign the form as both the Seller/Grantor and Buyer/Grantee (Capacity) are jointly and severally responsible for payment of the transfer tax. If Seller/Grantor or Buyer/Grantee do not sign, the person who signs is required to identify themselves (Capacity). (i.e: agent, attorney, etc.)
Both sides of the Seller/Buyer information, including addresses section must be completed.
If someone other than the grantor or grantee is requesting recording, the "Company/Person Requesting Recording" section must be completed.