Determining Real Property Value

The assessor estimates the land’s full cash value by considering its location, zoning, actual use, etc. Land values are estimated from market sales or other recognized appraisal methods. The taxable value of improvements is the estimated replacement cost new less depreciation.  The land value is added to the improvement’s taxable value to arrive at the property’s overall taxable value.

To calculate the tax on a new home that does not qualify for the tax abatement, let's assume a home with a taxable value of $200,000, located in the City of Yerington with a tax rate of $3.50 per hundred of assessed value (.035). To determine the assessed value, multiply the taxable value of the home ($200,000) by the assessment ratio (35%):

$200,000 X .35 = $70,000 assessed value

To calculate the tax, multiply the assessed value ($70,000) by the tax rate (.035): $70,000 x .035 = $2,450.

If the home has already qualified for a 3% or 8% tax abatement, taxes will be figured on the assessed value from the base year it qualified. Questions regarding a tax amount for a specific property should contact the Treasurer's Office at (775) 463-6505.