¿Tu Casa Está Clasificada Correctamente en el Condado?

Today we'll be speaking with David Castillo of Landmark Title about a topic many homeowners overlook: property taxes and how incorrect classification can lead to higher property taxes each year. In Nevada, the Declaration of Value includes an important section where you can indicate whether the property will be owner-occupied. This can help confirm that the property qualifies as a primary residence and potentially receive the 3% cap on the property tax increase, instead of the up to 8% cap that applies to non-owner-occupied properties, commercial properties, land, or other uses. In Clark County, the Assessor explains that Nevada law limits the annual tax increase to 3% for the owner's primary residence and up to 8% for other properties.