Property Tax Cap Claim Form

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On April 6, 2005, a law was signed by Governor Guinn which provides a partial abatement of taxes by applying a cap on the annual increase a property taxes on the OWNER’S PRIMARY RESIDENCE. This can be a single-family house, townhouse, condominium or a manufactured home on land.

NRS 361.4723 provides abatement of taxes by applying a 3% cap on the tax bill of the owner's primary residence or qualified rental dwelling. The law only allows for you to claim “ONE” Nevada residence as your “primary”, therefore, if you are claiming another Nevada residence within a different county as your primary, please notify that County Assessor of this change.

A cap of no more than 8% is applied to residences that are not owner occupied, land, commercial buildings, business personal property, aircraft, etc. New construction or property that has a change of actual or authorized use will not qualify for an abatement for the first year, but will receive the appropriate cap the following year.

FREQUENTLY ASKED QUESTIONS:

What is the Partial Tax Abatement or the "Tax Cap? Nevada Revised Statutes 361.471 through 361.4735 provides for a Partial Tax Abatement of property taxes and is commonly referred to as the "Tax Cap". The Tax Cap limits the amount your property taxes can increase from one fiscal tax year to the next. Any amount over the tax cap limit is abated. The Tax Cap does not apply to new construction, new value placed on the assessment roll or changes in actual or authorized use. The Tax Cap does not mean your taxes will increase. It means that IF your taxes increase, they will not increase by more than a certain percentage.

By what percentage can my property taxes increase? For property that is your primary residence in Nevada OR property that is rented at or below the low income housing (HUD) rent level, you may file a claim (form provided below) to receive the "Low Tax Cap", which cannot exceed 3%. All other types/uses of qualifying property receive the "High Tax Cap", which cannot exceed 8%.

Why would I receive this form? You should receive this form to give you the opportunity to claim the Low Tax Cap. Various reasons may prompt this form to be sent to you. This form overrides any forms that may have been filed in the past years for this parcel. Anytime you receive this form and you believe you qualify for the Low Tax Cap, the form needs to be filed with the Assessor's Office to establish or reestablish your qualification. To file the claim for the Low Tax Cap, you may complete the form below and mail it to the office.

What properties qualify as a primary residence? A property can qualify as your primary residence if it meets ALL of the criteria below:

A recorded owner resides at the property, whether or not the owner lives there full-time AND the owner does not claim another property in Nevada as their primary residence AND the owner does not rent or lease the property out on a nightly, weekly, monthly or other short or long term basis (roommates that occupy the home simultaneously with the owner are an exception).

For the official language please refer to the Nevada Revised Statute (NRS) 361.4723(6)(b) at

http://leg.state.nv.us/NRS/NRS-361.html

What if I have a family member who lives at the property and pays the mortgage? If a family member that is not an owner on the deed to the property lives at the property and pays the mortgage it is considered a rental and the amount they pay should be reported on this claim form as rent.

How do I know if my rental property will qualify for the low or high tax cap? A rental property may qualify for the Low Tax Cap if the maximum amount of monthly rent collected between April 1, 2022 and March 31, 2023 is at or below the fair market rent amount as determined for Carson City County pursuant to NRS 361.4724. In order for our office to determine if your rental property qualifies for the Low Tax Cap our office needs to know how many bedrooms are in the residence, the maximum amount of monthly rent charged to your tenant(s) between April 1, 2022 and March 31, 2023 and whether the rent amount paid by your tenant(s) included the heat and electric. The State of Nevada Department of Taxation publishes the maximum rental limits each year and can be found on their website at http://tax.nv.gov/LocalGovt/PolicyPub/Archivefiles/FairMarketRents/ . If the amount of rent your tenant pays exceeds the fair market rent published, the property does not qualify for the Low Tax Cap and you do not need to file this claim form.

What if this parcel is neither my primary residence nor a rental? If, as of July 1, 2023, this property will not be occupied, is under construction, was abandoned, is no longer usable as a dwelling or if the property will be used for any other reason other than as your primary residence or a residential rental, the property will not qualify for the Low Tax Cap and you do not need to file this form.

What should I file if this property is up for sale and escrow to close prior to July 1, 2023? If the property has, or is being, sold and you will no longer be the owner on July 1, 2023, you may disregard this form. Our office will update our ownership records after the new deed is recorded and will mail a Property Tax Cap Claim Form to the new owner.

What if I missed the deadline listed on this form? If it is prior to June 30, 2023, you may still submit the form to our office. Our office will process this form and notify the Carson City Treasurer's Office of any change in qualification. The Treasurer's Office will notify you if there is any adjustment to your tax bill.

Can I appeal the Tax Cap decision made for my property? Pursuant to NRS 361.4734, a taxpayer who is aggrieved by a determination of the Tax Cap decision made for their property may file a written petition to the County Assessor. The deadline to appeal to tax cap for the 2023/2024 fiscal year is on or before June 30, 2023.

Who determines the high tax cap each year? How are the low income housing rent levels determined? We receive our information from the Nevada Tax Commission through the Nevada Department of Taxation. For more information please visit http://tax.nv.gov/ . For any other questions, please contact the Assessor's Office at 775-887-2130 or email us at Assessor's Office.