Assessed valuation tops $2.3 billion in Douglas County
December 27, 2004
Douglas County’s assessed valuation for 2005-06 totals more than $2.3 billion, an increase of $83 million over last year, according to figures released by the Douglas County Assessor’s office.
Increases in land values caused by explosive growth were the primary factors contributing to the $83 million increase, said Doug Sonnemann, Douglas County assessor.
“If you want to sell your property it’s a real benefit, but from our standpoint, it’s hard to see the values escalating like this,” he said. “The average person is being priced out of their home. Retirees are hardest hit by these increases.”
Sonnemann said that number represents the valuation as of July 1, when the rolls were closed.
Value is added as the land is divided. Any recent approvals, like the 1,020-home Virginia Ranch development and the 633-home Anker-Park development, are not included in this year’s figure.
The proposed commercial area east of Highway 395 in north Douglas County will significantly increase the assessed valuation here, Sonneman said.
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Some unsecured personal property and business assets, like utilities, are not included in that figure. In Douglas County, those assets total about $35 million, Sonnemann said.
The increased valuations have affected most western Nevada counties, including Lyon, Washoe and Carson City. Churchill County is seeing some increases but the valuation in most rural counties are flat, Sonnemann said.
Some counties, like Humboldt and Lander, saw a drop in their assessed valuation when external factors, like the price of gold, decreased and the mining economy faltered, he said.
“Their economies have recovered, as have their assessed valuations,” he said. “But in other counties, like White Pine, the assessed valuation is flat because the county hasn’t been able to attract new business.”
During their upcoming 2005 session, the Nevada State Legislature will be considering a bill to cap property value increases at a fixed percentage. Bill draft information can be found at the Legislature Web site, http://www.leg.state.nv.us.
— Susie Vasquez can be reached at firstname.lastname@example.org or 782-5121, ext. 211.