How to Identify Your Tax Status and Avoid Overpaying

Are your property taxes increasing by too much? It's important to know the tax status of your property to make sure you're not overpaying. In Washoe County, primary residences and investment properties that are collecting below-market rents may qualify for what's called "low cap tax status". This means that property taxes can only increase up to 3%. If your property falls into the high cap tax status, your taxes could increase as much as 8%.

How do you know the tax status of your property? There are two ways to find out. First, you can look at your most recent tax bill. Second, you can go to the Washoe County Assessor's website and search for your property. Once you've determined your property's tax status, if you believe you should qualify for a lower rate but are being charged the higher rate, you can fill out a tax abatement form.

"It's important to know the tax status of your property to make sure you're not overpaying."

Once you've completed the form, email it to the address at the top of the form so that they can get it corrected for you. This is important because you don't want to overpay for taxes.

Be sure to share this information with family, friends, and coworkers to make sure they're not overpaying for taxes either. If you have any real estate questions, don't hesitate to reach out to me by phone or email. I look forward to hearing from you.