Robert owns a home in Nevada and wants to protest his property tax assessment. He believes the county assessor has overvalued his property. Under Nevada law, to whom must Robert first file his appeal of the assessed valuation?
Correct Answer
C) The County Board of Equalization
Under NRS 361.340 and NRS 361.360, a property owner who wishes to contest a county assessor's valuation must first file an appeal with the County Board of Equalization. This is the initial administrative forum for property tax assessment disputes in Nevada. The appeal must typically be filed by January 15th of the tax year. If the owner is dissatisfied with the County Board's decision, they may then appeal to the State Board of Equalization.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A transfer tax is a tax imposed on the transfer of ownership of real estate.
Reconciliation is the final step in the appraisal process where the appraiser analyzes the value indications from all applicable approaches and arrives at a single final opinion of value. It is not a simple average of the three values.
The comparable sales approach estimates a property's value by comparing it to similar properties that have recently sold in the same market area. It is the most widely used and reliable approach for appraising residential properties.
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- → External obsolescence in Oklahoma:
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