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A
A
Here:
okay,
thank
you.
So
before
we
begin,
I
would
like
to
explain
how
virtual
committee
meetings
work.
This
is
a
new
process
for
all
of
us.
Hopefully
we're
getting
our
feet
warm
as
we're
several
weeks
in.
As
you
know,
the
legislative
building
is
currently
closed
to
the
public,
and
so
all
meetings
will
be
held
virtually
meaning
committee,
members
and
staff,
and
everyone
else
will
participate
through
zoom
video
conference
or
by
telephone.
A
A
A
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A
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A
If
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and
minutes,
please
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committee
manager
at
the
committee
email
listed
on
the
agenda
so
for
today
our
presentation
will
be
from
the
assessor's
office,
nevada,
assessors
from
clark
county
and
miss
brianna,
johnson
and
dave
dolly
from
the
carson
city.
Assessor
they're
gonna
give
us
a
high
level
overview
on
property
taxes.
E
D
D
D
D
So
that
is
the
date
that
anything
is
in
that
is
in
place
as
of
july
1.
It
is
subject
to
taxation
and
we
work
by
fiscal
year.
So
the
secured
role
that
we
are
in
right
now
started
in
july,
1
of
2020
and
it
will
end
june
30th
of
2021,
and
next
year's
fiscal
year
will
be
july,
1
of
2021
through
june
30th
of
2022.
D
D
D
D
D
The
total
taxable
value
helps
us
to
determine
if
we
are
exceeding
market
because
by
law
we
cannot
exceed
market
value.
So
the
total
taxable
value
helps
us
to
test
against
the
market,
to
make
sure
that
we
are
not
exceeding
full
cash
value
of
a
property,
and
I
can
give
you
an
example
of
that.
Perhaps
a
property
owner
just
purchased
a
brand
new
home
or
250
000,
and
when
we
set
our
total
taxable
value,
perhaps
we're
at
260
000,
and
we
look
throughout
that
homogeneous
neighborhood
for
all
of
those
type
homes
to
say.
D
Are
we
exceeding,
or
did
this
particular
property
owner?
Just
get
a
deal
or
or
what
happened
with
that
property
just
to
make
sure
we're
not
exceeding,
but
if
we
can
look
at
all
the
properties
in
a
neighborhood
and
say
you
know,
most
of
these
homes
are
selling
brand
new
at
250,
240
255
and
we're
at
260.
D
D
D
So
the
next
portion
of
the
slide
shows
you
the
assessed
value
times
the
tax
rate.
Here
in
clark
we
have
about
110
or
so
tax
rates,
depending
on
where
you
are
within
the
county.
There
is
a
tax
rate
assigned
to
that
district,
and
then
that
gives
you
your
taxes
as
assessed,
so
the
87
500
times
the
tax
rate-
and
this
is
just
a
tax
rate
that
I
use
down
here
in
clark-
gives
you
a
tax
amount
of
2868.43.
D
Abatements,
this
is
also
another
area
of
valuation
that
we
deal
with,
and
you
can
see
that
we
have
the
residential
abatement
or
tax
cap
abatement
for
residential
properties
and
these
type
of
properties
are
owner,
occupied
or
rentals
that
are
at
or
below
the
hud
rates.
We
have
all
other
properties
which
would
fall
under
the
secondary
tax
cap.
D
D
D
D
D
D
This
is
what
clark's
tax
cap
looked
like,
but
the
next
slide
is
going
to
show
you
what
carson's
tax
cap
looked
like.
So,
as
you
can
see
in
fiscal
year,
06
for
carson,
they
were
at
3
and
5.8,
keeping
in
mind
that
clark
was
at
three
and
eight
through
fiscal
year
eleven
in
carson.
They
only
reached
the
eight
percent
or
other
cap
in
fiscal
year
of
nine.
C
This
is
dave
dawley,
carson
city,
assessor
good
afternoon.
Your
tax
cap
proposed
tax
cap
for
this
year
is
7.7
percent.
Just
want
to
throw
that
out.
D
Now
this
next
slide
is
a
property
tax
calculation
sample,
and
what
this
is
going
to
demonstrate
is
a
little
bit
about
how
the
tax
cap
works
and,
again
forgive
me.
I
don't
want
to
overstep
my
boundaries
because,
as
I
mentioned
in
the
previous
slides,
our
role
stops
at
the
assessed
value,
but
I
will
go
into
the
taxes
and
how
the
tax
cap
works.
D
So
if
we
could
look
at
year
one
you
can
see
that
this.
This
is
an
example
for
a
brand
new
property
being
added
to
the
tax
roll
in
year.
One
the
land
value
is
64
000,
the
building
value
replacement,
cost
new,
no
depreciation
of
186
000
and
the
reason
there
is
no
depreciation
because
it
is
the
first
year
on
the
tax
roll
anything
added
to
the
tax
roll
for
the
first
time
does
not
receive
depreciation.
D
D
D
Those
are
the
taxes
they
would
pay
in
year.
One
now
we
fast
forward
to
year
two,
the
assessor
has
done
their
job
they've,
determined
that
the
land
is
now
increased
to
sixty
seven
thousand,
the
building
value,
rcn
replacement,
cost
new
marshall
and
swift
when
we
put
the
cost
tables
into
our
system,
has
determined
that
this
house
is
now
on
a
cost
basis
worth
196
000
less
year,
one
this,
I'm
sorry,
not
year,
one
we're
in
year,
two
but
one
and
a
half
percent
depreciation.
D
So
now
we
have
a
total
taxable
value
of
260
060.
In
year,
two
for
that
same
house
take
it
times
the
assessment
ratio
of
35
percent.
The
assessed
value
this
year
is
now
91
000
21
in
year
two
times
that
by
the
tax
rate,
taxes
as
assessed,
so
the
treasurer's
office
always
always
calculates
taxes
as
assessed
because
the
way
the
law
reads.
It
is
the
lesser
of
the
two:
either
the
tax
cap
or
taxes
as
assessed
it's
the
lesser
of
the
two.
D
D
D
D
D
D
That
gives
us
three
thousand
forty
three
dollars
and
eleven
cents,
but
what
they
have
to
do
is
add
the
pool
to
that
and
you'll
see.
I've
highlighted
those
in
green
because
the
pool
is
not
subject
to
the
tax
cap.
The
pool
is
going
to
be
taxed
at
full
value,
so
they
have
the
capped
tax
of
304311,
they
have
to
add
in
the
pool,
and
so
that
gives
a
total
tax
of
and
eighty.
D
D
E
C
One
too
far
there
you
go.
What
I
wanted
to
discuss
here
is
you
see.
These
numbers
are,
are
all
over
the
place
and
the
calculations
to
actually
determine
what
these
numbers
are
is
first
off
we're
going
to
be
well.
Actually
we
don't.
The
department
of
taxation
looks
at
the
10-year
rolling
average
of
the
assessed
valuation
of
the
county
to
see
whether
what
what
at
what
percentage
that
is,
they
then
compare
that
to
cpi
times.
Two
number
is
greater.
C
C
Our
10-year
rolling
average
was
was
only
over
the
eight
percent
once
all
the
other
times,
it's
always
been
under
we've
been
up
until
this
current
year,
we've
been
using
cpi
times
two,
because
our
10-year
rolling
average
has
been
a
negative
for
the
last
10
years,
because
we're
still
trying
to
come
out
of
the
the
big
bubble
that
took
place
back
in
2008.
C
We
in
carson
city
are
about
two
years
behind
washoe
county
and
our
values,
and
so
it,
the
market
itself
takes
effect
two
years
later
here
for
us
and
so
we're
just
now
getting
to
the
point
where
our
ten
year,
rolling
average
is
a
positive,
and
so
that's
why
you're
seeing
the
difference
here
in
the
actual
number-
and
I
mentioned
this,
because
there
is
a
bill
that
was
introduced-
that
that
addresses
this.
This
exact
thing
today.
E
So
I
wanted
to
talk
a
little
bit
about
the
projects
that
people
do
to
maintain
their
house.
I
talk
about
depreciation
with
a
lot
of
people
and
when
I
get
into
those
conversations
it
often
goes
to
this
place
of
well.
My
property
is
getting
older.
Therefore,
it's
appreciating.
Therefore,
we
deserve
this
1.5
depreciation
calculation,
and
so
I
thought
it
might
be
helpful
for
you
to
explain
how
maintenance
types
of
improvements
so
a
new
roof
or
replacement
windows,
how
that
gets
treated
in
the
valuation
process
and
that
interaction
with
depreciation.
C
Well,
in
carson
city,
thank
you
senator
ready
in
carson
city.
What
happens
is
we're
not
looking
at
that?
We're
not
going
to
the
the
home
is
the
home.
It
gets
the
depreciation
from
the
age
of
the
structure
itself
if
they
put
new
windows
in
we're,
not
going
to
go
ahead
and
actually
put
those
in
as
new
outside
the
cab.
So
it
would
just
continue
with
the
same
depreciation
that
it
has.
C
What
brianna
was
talking
about
were
major
improvements
if
they
completely
got
the
inside
of
the
structure
itself
and
they
put
new
insulation,
they
put
new
walls,
new
plumbing,
new,
all
that
kind
of
good
stuff.
At
that
point,
it's
going
to
cause
a
new,
effective
age
for
the
house,
and
at
that
point,
then
the
structure
itself
would
actually
lose
depreciation.
So,
hypothetically,
if
you
had
a
home
that
was
built
in
1970
and
they
completely
gutted
the
home
in
in
2010
or
2015.
C
E
But
to
be
clear,
that's
only
on
a
major
renovation
where
they're
significantly
altering
the
house
and
bringing
the
house
back
up
to
modern
as
opposed
to
what
the
vast
majority
of
property
owners
will
be
doing,
which
is
new
countertops
and
new
flooring
in
their
kitchen.
Maybe
some
new
cabinets,
new
appliances,
none
of
the
basic
maintenance
affects
the
valuation
of
the
property.
D
Thank
you
and
I'll
also
add
senator
ratty
that
there
are
times
where
people
obviously
do
additions
or
things
of
that
nature
and
depending
on
the
size
of
the
edition.
Oh
I'm
sorry,
my
video
was
up.
It
would
determine
whether
or
not
we
do
an
effective
age
as
well,
so
sometimes
additions.
Add
to
that,
and
that
is
all
outside
of
the
tax
cap.
E
B
C
Thank
you
it's
chairwoman,
neil,
so
the
other
person
or
the
other
taxes
that
we
were
referring
to
are
personal
property
taxes
and
brianna.
You
could
share
your
screen
real,
quick
again,
please
in
the
state
of
nevada,
we
actually
tax
personal
property.
We
we
would
tax
commercial
businesses,
aircraft,
mobile
homes,
porta
hangers
billboards.
C
We
have
seven
currently
nine
different
depreciation
tables
that
we
use
they're,
200,
double
declining
straight
line,
depreciation
tables,
brianna
where's
that
slide,
and
so
when
we,
when
we
value
personal
property,
we
send
out
a
declaration
every
year
to
all
businesses.
Well,
we'll
come
back,
go
back!
Okay!
C
There
you
go,
so
we
send
out
a
declaration
every
year
to
all
commercial
businesses
in
the
state
of
nevada
and
it's
it's
based
on
the
honor
system.
So
the
lean
date
is
july
first
and
we
asked
them
to
list
all
the
equipment
that
they
have
in
their
business
as
of
july
1st,
how
much
they
paid
for
it
when
they
purchased
it,
because
the
depreciation
itself
is
based
on
the
year
of
acquisition.
C
Again
I
mentioned
there
were
nine
depreciation
tables.
There's
there's:
there's
electronics,
there's
computers,
there's
regular
equipment
which
would
be
a
15-year
life.
Mobile
homes
have
a
20-year
life,
but
not
all
of
the
equipment
itself
is
going
to
be
fully
depreciated
like
it
is
with
the
internal
revenue
service.
All
of
our
depreciation
tables
have
a
five
percent
good,
so
the
maximum
depreciation
that
any
of
the
personal
property
can
get
is
95.
C
C
The
tax
rate
is
what
the
tax
amount
is
again
any
new
equipment,
that's
added
to
the
role,
is
outside
the
property
tax
cap
the
first
year,
and
so
I
know
that
you
know
casinos
are
probably
in
for
us,
probably
one
of
our
biggest
people,
because
the
slot
machines
and
everything
they
appreciate
really
fast
and
they
keep
changing
everything
out,
but
they
also
pay
a
lot
of
taxes.
C
So
all
right
go
ahead
next
screen,
so
the
department
of
taxation.
They
actually
do.
Some
of
the
the
assessment
and
discovery
work
for
us
when
you
have
mineral
tax
net
proceeds
of
minerals-
and
I
apologize
brianna-
and
I
aren't
really
familiar
with
this,
because
we
don't
have
mines
in
our
counties:
eureka,
county,
humboldt,
county,
elko
county,
they
have
huge
mines
and
so
the
department
of
taxation.
They
do
all
the
calculations
for
the
net
proceeds.
They
then
send
that
value
to
the
county,
assessors
and
the
county
assessors
actually
bill
it.
C
The
department
of
taxation
also
does
what's
called
centrally
assessed
property.
So
if
you
have
utilities
or
airlines
that
actually
cross
county
lines,
the
department
of
taxation
values
that
on
a
unitary
value
and
then
they
actually
send
that
money
to
to
each
particular
county.
We
don't
get
involved
with
that
at
all.
C
Go
ahead
exemptions,
so
in
in
the
state
of
nevada,
there
are
partial
exemptions
and
the
partial
exemptions
that
we
have
are
you
can
you
can
give
them
to
surviving
spouses,
so
that
would
be
widow
or
widower
people
who
are
declared
legally
blind?
We
have
veterans,
exemptions
and
disabled
veterans
exemptions.
A
disabled,
veteran
is,
is
considered
disabled
if
his
disability,
through
the
va,
is
at
least
60
percent,
and
you
can
use
those
exemptions
on
either
the
dmv
governmental
service
tax
or
you
can
use
it
on
the
property
taxes
on
an
annual
basis.
C
We
also
have
partial
exemptions
for
lodges
and
charitable
organizations,
and
then
we
also
have
full
exemptions
for,
for,
obviously,
the
state
lands
and
any
any
federal
lands
in
in
carson
city.
We
have
about
82
percent
of
our
land
that
is
actually
owned
by
tax-exempt
entities,
and
so
only
only
about
18
is
actually
taxable.
So
it's
a
huge
amount
that
we
don't
receive
any
kind
of
taxes
on
at
all
school
districts
charter,
schools.
We
have
an
exemption,
obviously
the
the
go
ed
exemption
for
the
pollution
control
and
the
economic
development
and
so
forth.
D
There
I
am
so
that
concludes
our
presentation
unless
there's
any
questions
that
anyone
has
we'll
be
happy
to
answer
them
but,
like
I
said
it
was
a
broad
overview
of
what
we
do
as
assessors
and
just
trying
to
clear
up
any
misunderstanding
about
us
on
the
valuation
side
versus
the
taxes
side.
We
are
the
value
side.
E
Cite
a
constituent
reach
out
to
me
on
the
charitable
exemption
on
purple
personal
property
tax,
and
their
concern
was
that
in
the
county
that
they
were
located
in,
there
seemed
to
be
a
more
strict
interpretation
of
that
charitable
status
being
dependent
on
public
support
in
the
form
of
donations
and
gifts,
as
opposed
to
a
model.
That's
much
more
common
with
our
charitable
human
services
sector
now,
which
is
a
lot
of
state
contracts
or
other
grant
contracts
that
they're
contracting
to
provide
a
service
where
we
have
these
partnerships
with
public
and
private
sector.
E
E
And
so
I
know
that's
a
pretty
nuanced
view
and
maybe
not
an
answer
today,
but
I'm
looking
to
get
a
sense
of
if
there's
something
that
you
feel
we
might
need
to
clarify
in
the
statutes
that
the
intent
of
that
law
is
around
charitable
organizations.
More
broadly,
even
if
their
revenue
stream
is
a
state
contract,
for
example,
for
services.
So
is
that
anything
that
either
of
you
have
stumbled
over
or
you
could
comment
on.
C
Oh,
thank
you
senator
rowdy.
When
you're
talking
about
charitable
organizations,
nrs
361
140
is
very
broad
in
itself.
It
doesn't
really
specify
that
there's
any
kind
of
requirements
it
just
the
statute
just
says
that
you
have
to
whose
corporation,
whose
object
or
purposes
are
religious
education
or
public
charity.
C
C
E
C
What
we
do
in
carson
city,
so
if,
if
they
apply
for
it,
then
they
provide
us
with
the
statute
that
they
believe
that
they
qualify
for
and
then
at
that
point
we
send
it
to
the
da
and
the
da
at
that
point
says
yeah.
I
believe
they
do
or
they
don't,
and
so
we
give
them
our
recommendation,
but
that's
about
it.
It
really
does
depend
but
pretty
much
if
they
qualify
under
140,
then
that's
we
would
say.
Yes,
they
qualify.
D
E
Thank
you,
ms
johnson,
and
I
think
that's
exactly.
I
think
you
hit
the
nail
right
on
the
head
there
is
that
we're
seeing
that
that
interpretation
is
being
applied
and
if
it's
a
state
contract,
as
opposed
to
a
state,
grant
it's
being
narrowly
interpreted
to
say
that
they
aren't
doing
charitable
work,
because
it's
like,
if
50
or
more
of
their
budget
comes
from
that
state
contract.
D
A
So
I
had
I
had
a
quick,
well
a
couple
questions,
but
either
one
miss
johnson
or
mr
dolly.
Can
you
guys
discuss
the
income
approach
for
businesses
and
the
and
how
the
process
works
for
the
county
and
state
board
of
equalization.
C
I'll
be
happy
to,
but
you
guys
use
the
income
report
approach
much
more
than
we
do
so
in
the
state
of
nevada.
There's
actually
three
ways
in
which
we
can
determine
what
the
actual
market
value
is
on
the
property
or
or
the
valuation
for
the
property.
So
the
first
is
going
to
be
the
cost
approach.
C
If
the,
if,
in
fact,
we
believe
that
the
the
their
valuation
is
verified
through
the
income
approach,
at
that
point,
we
would
we
would
accept
their
evaluation
if
it
goes
to
the
county
board
of
equalization.
I
mean
at
any
point:
these
can
be
appealed,
are
the
any
property
can
be
appealed?
The
deadline
is
january
15th
and
it
can
go
to
the
county
board
of
equalization.
C
A
Oh,
you
answered
is
fine.
I
just
wanted
you
to
talk
about
the
income
approach
and
just
get
that
on
the
record
because
it
wasn't
discussed.
That's
all.
I'm
not
gonna
like
go
super
into
it
in
a
deep
way,
but
senator
sievers
gansurd
has
a
question,
and
then
I
have
a
couple
more
after
that.
B
Thank
you,
madam
chair,
and
so
in
in
talking
about
the
income
approach.
If
you
have
a
business
that
ends
up
resetting
their
their
valuation
and
therefore
the
property
taxes
on
the
using
the
income
approach,
then
the
the
eight
percent
cap
applies
to
the
new
base
is:
is
that
correct?
So
it
basically
resets
the
base
and
then
the
eight
percent
cap
applies
to
that
every
year.
The
tax
piece.
C
Senator
sieberg
answered
yes,
that
is
correct,
so
if
whatever
the
new
base
is
so
if
the
value
is
here
that
the
taxes
were
based
on
based
on
the
income
approach,
it
goes
down
to
here.
At
this
point,
this
is
going
to
be
where
the
new
tax
cap
abatement
is
going
to
be
based
at
the
the
a
percent
or
the
alternative
cap
is
going
to
be
based
on
that
value
itself.
So
you're
correct.
B
B
You
know
during
the
recession,
because
I
think
a
lot
of
companies
switch
to
the
income
approach
which
reset
their
base,
and
then
it
grows,
of
course,
at
eight
percent,
which
is
much
higher
than
three
percent,
but
it's
still
there's
like
there's
a
cap
on
the
growth,
so
I
don't
know
if
we
ever
looked
at
how
many
and
what
the
dollars
were
upon
reset
for
those
that
chose
to
to
move
the
income
approach.
And
can
you
also
switch
from
income
back
to
the
market
value?
D
Okay,
senator
stevens
grant
the
answer.
Let
me
just
back
up
a
little
bit
because
you
talked
about-
and
I
think
dave
talked
about
if
there
is
a
reduction
based
on
the
income
approach,
that
that
sets
a
new
base.
But
what
we
found
down
here
in
clark
is
that
not
always
just
because
you
get
a
reduction
at
the
board
of
equalization.
Sometimes
the
reduction
has
no
impact
on
the
taxes,
because
they're
capped
so
low.
D
So
our
last
board
hearing
was
today
it's
possible
that
they
could
have
gotten
a
reduction,
but
it's
not
going
to
change
their
taxes,
because
what
they're
paying
taxes
on
is
already
way
lower
than
what
the
reduction
is.
So
it
doesn't
always
necessarily
set
a
new
base.
It
just
depends
on
how
low
the
value
goes,
but
in
most
cases
at
least
here
in
clark,
some
of
the
reductions
have
no
effect
on
taxes.
E
So
just
to
follow
up
on
ms
johnson's
last
comment
and
that's
because
their
tax
valuation
was
reset
so
low
during
the
recession.
The
last
recession,
not
this
recession,
that
the
delta,
even
based
on
their
income
valuation.
Now
their
base
got
set
so
low
in
the
recession
that
it's
going
to
take
a
long
time
for
that
to
come
back
up
to
be
meet
any
kind
of
either
income
based
or
traditionally
based
assessment.
Is
that
what
you're
saying.
B
That's
not
quite
how
I
was
thinking
that
it
was.
It
was
maxed
out
because
of
the
eight
percent
cap
overall,
so
the
eight
percent
is
sort
of
what's
affecting
what
people
pay
versus
what
their
base
is,
because,
no
matter
what
you
still
have,
the
the
that
eight
percent
that's
off
of
a
a
base
at
some
point
in
time,
yeah.
D
That
is
correct
and
also
senator
sieversgenser,
just
kind
of
like
the
example
I
gave
on
the
property
tax
calculation
in
year
three
and
in
year
three
you
could
see
that
there
was
a
tax
cap
and
their
taxes
as
assessed
was
lower
so
that
year
in
year,
three
is
going
to
be
now
their
new
base.
So
to
speak
so
year.
Three
is
now
their
new
base,
because
they're
paying
taxes
as
assessed
and
now
going
forward.
They'll
be
capped
on
that.
E
D
Reset
their
base,
but
looked
at
their
taxable
value,
so
in
december
of
20,
when
we
closed
our
tax
rolls,
we
requested
financials
from
these
companies
or
property
owners
to
say,
give
us
your
financials
granted.
It
was
hard
to
get
fourth
quarter
because
we're
closing
our
tax
world
before
december,
but
the
information
that
we
get
did
get
for
quarters
one
through
three.
D
We
analyzed
that
data
looked
at
the
data,
did
our
income
approaches
tested
out
the
market
and
we
did
kind
of
like
it's
a
discounted
cash
flow,
so
we
went
through
and
analyzed
all
of
the
data
and
what
we've
determined
set
our
tax
values
that
there
wasn't
really
much
room
for
reduction
and
I
think,
on
some
of
our
properties.
I
think
we
went
back
to
2018
2019
values
and
some
to
1920
values,
but
again
had
having
no
real
effect
on
actual
taxes.
B
A
A
A
What
then
happens
with
this
calculation
that
you
did
now,
which
kind
of
took
into
effect
a
factor
that
is
not
going
to
be
a
future
factor,
and
then
I
have
a
follow-up
to
that.
D
Okay,
so
again
the
information
we
got
as
of
last
roll
close
or
in
the
end
of
2020,
so
we
revalue
every
year
so
meaning
next
year
we
may
get
financials
from
this
year
forward,
so
we
got
financials
from
last
year
january
of
20
through
third
quarter
of
20..
We
looked
at
that
to
say
this
is
what
we
have
and
our
data
evaluation
as
we
we
know
for
board
of
equalization
is
january
1..
So
we
again
took
that
into
account.
So
we
did
a
dis.
D
We
didn't
do
a,
I
shouldn't
say
a
direct
capitalization
summary,
but
what
our
appraisers
did
was.
They
did
like
a
discounted
cash
flow
to
say
what
if
your
income
starts
to
stabilize
in
three
years,
so
we
kind
of
looked
at
what
happened
in
2020
with
the
pandemic
as
9
11.
So
to
speak,
it's
kind
of
how
we
looked
at
things
to
say
this
isn't
a
forever
thing,
but
it's
something
that
happened,
but
maybe
three
years
out,
four
years
out,
things
will
start
to
stabilize.
D
A
Okay,
thank
you
for
that.
This
is.
This
is
interesting.
So,
okay,
okay,
sorry,
but
this
is
happening
on
the
business
side,
but
what
I
I
guess
my
next
question
is
in
clark
county
we're
having
a
new
construction
boom,
as
they
say
some
realtors
or
even
claiming
that
we
may
run
into
that
bubble.
But
what
are
because?
A
So
let
me,
let
me
tell
you
what
my
thoughts
are
right.
It's
it's
almost
like
a
paradox:
that's
existing,
so
you
have
business
where
you're
building
in
deflation
and
the
rate,
and
then
you
have
this
new
construction
boom,
that's
happening
at
the
same
time,
although
it
was
pandemic,
these
things
were
occurring
simultaneously.
A
So
so,
how
are
you
globally?
Looking
at,
I
guess
the
clark
county.
I
guess
how
we're
how
we're
taxing
on
the
one
side
and
then
on
the
other.
Can
you
talk
to
me
about
what
you're
doing
with
the
new
construction
that's
happening
during
the
pandemic
and
how
that's
being
treated?
Were
there
factors
added
in
or
was
it
the
same?.
D
D
Why
that
is
we
don't
know?
We
just
go
with
the
market.
So
that's
what
the
residential
market
is
indicating
on
the
commercial
side.
As
we
know,
office
retail,
hotel,
casinos
were
shut
down,
so
that's
a
different
market
that
we're
looking
to
so
you
have
two
different
markets
that
you're
looking
at
and
because
we
value
some
things
based
on
market
and
we
test
the
market.
We
have
to
look
at
those
things.
Residential
properties,
unfortunately,
don't
get
the
opportunity
to
use
the
income
approach
because
they
are
residential
properties.
D
A
I'm
sorry,
I
understand
that
I
understand
they're
two
separate
things,
but
I
guess
I'm
looking
at
it
like
globally
right.
So
when
all
the
taxes
go
in
the
bucket
they
go
in
the
bucket,
and
I'm
just
wondering
if
there
were
any
factors
used
for
the
pandemic,
when
you
guys
did
the
value
valuation
on
the
residential
side
and
what
it
sounds
like
is:
no
none
of
that
is
being
taken
into
consideration.
D
A
D
A
Yeah,
I
was
just
trying
to
understand
that
number
and
then,
and
then
I
do
want
to
go
back
to
what
I
was
alluding
to
before.
B
A
Just
saying
I
have
been
hearing
it
and
I've
in
it,
and
it
worries
me
only
because
and
I'm
and
I'm
getting
real
broad
with
this
statement
that
I
I
want
to
make
sure
that
I
guess
local
governments,
when
they're
building
out
their
budgets
around
property
tax,
that
they're
being
a
little
bit
more
conservative
and
that
there
are
conversations
around
what
what
what
all
of
these
factors
mean
right.
A
The
pandemic
factor,
this
new
construction
factor
and
the
fact
that
we
have
several
other
things
working
in
the
space
where
I
think
that
they
should
be
paying
attention
to,
even
though
they
may
see
growth,
which
you
guys
were
showing
growth
in
2022,
that
they
need
to
be
planning
for.
You
know,
23
or
or
24
something
else
occurring
and
just
trying
to
be
a
little
bit
more
conservative
and
and
not
over
projecting
in
terms
of
property
tax,
and
just
assuming
that
you
know
going
lowballing
themselves
versus
anything
else.
A
I
guess
that's
just
my
thought
only
because
you
know
2010
and
2011
were
very
real.
That
was
my
first
session
and
I
just
don't
ever
want
to
come
back
and
hear
local
governments
at
the
table
saying
well,
our
property
tax
dropped
out
and
this
happened-
and
this
happened
when
we
can
look
at
kind
of
the
landscape
now
and
plan,
and
you
know
have
a
real
conversation
about
the
factors
that
play
and
and
make
good
decisions.
A
I
know
that
you
know
local
government,
I
I
hope
they're
in
constant
conversation
with
the
assessor
and
I
guess
the
treasurer
to
help
make
really
good
conservative
decisions.
But
you
know
that's
just
my
wish
in
the
pond.
I
guess
anyway,.
C
If,
if
I
could
just
throw
out
some
stuff
real
quick
so
honestly,
I
I
don't
think
that
the
the
values
going
up
are
so
sustainable
they're.
It's
just
not
going
to
happen
when
you
see
a
hundred
thousand
dollar
increase
in
a
sales
price
in
a
one
year
time
period,
that's
not
sustainable.
It's
just
not
going
to
happen.
I
do
think
there
is
going
to
be
an
adjustment,
that's
going
to
happen
in
the
real
estate
market.
Is
it
going
to
to
be
as
as
dramatic
as
it
was
back
in
2008?
C
I
don't
think
so,
but
I've
only
been
doing
this
for
28
years,
so
I've
only
gone
through
that
whole
bubble
once
so.
I
can't
really
tell
I
also
wanted
to
just
give
you
a
little
bit
of
a
perspective
on
the
rurals
as
far
as
the
income
approach.
So
we
had
five
appeals
this
year,
which
is
kind
of
normal.
For
us.
We
don't
have
a
whole
lot.
We,
we
have
been
valuing
a
number
of
properties
out
based
on
the
income
approach.
C
If
you
apply
for
the
income
approach
once
we
are
automatically
going
to
reach
out
the
next
year
and
and
try
and
get
your
financial
so
that
we
can
go
ahead
and
value
the
property
again
based
on
those
income
approach,
if
the
if
the
taxpayer
is
not
coming
to
us
to
to
value
their
property
based
on
the
income
approach,
we're
not
gonna
in
carson
city,
we're
not
gonna.
Do
that.
We
we
have
been
looking
at
the
pandemic.
B
E
D
A
Well,
I
appreciate
that
right,
but
I'm
also
very
you
know
weird,
but
I
like
conservative
approaches,
but
you
know
that's
just
me
so
members
do
you
have
any
other
questions
and
I
was
saying
I
don't
know
if
mr
guindon,
he
had
a
a
thought,
but
I
feel
like
he
should
probably
ask
it
himself.
B
Well,
madam
chair,
I
just
was
when
they
were
going
through
that
when
mr
dawley
presented
a
slide
on
personal
property
to
maybe
go
through
the
situation
where
a
manufactured
home
could
be
assessed
as
real
property
and
not
personal
property.
C
Thank
you,
madam
chair,
mr
ginnon.
Thank
you
there's.
So
many
different
aspects
to
the
assessment
part.
I
mean
there's
so
many
different
variables
that
that
trying
to
cover
every
single
aspect
is
nearly
impossible.
C
Mobile
homes
can
actually
be
converted
to
real
property,
in
that
they
specifically
do
it
for
financing
purposes
in
order
to
get
a
loan.
Most
lenders
want
the
properties
to
be
converted
to
real
property.
So
in
carson
city,
it's
just
a
bunch
of
paperwork.
There
there's
no
real
specifications.
As
far
as
foundations
are
concerned,
you
don't
have
to
have
a
complete,
concrete
criminal
foundation
in
some
counties.
You
do
as
long
as
it
meets
with
the
specs
manufacturer's
specifications
for
setup.
C
At
that
point,
the
the
owner
or
the
purchaser
of
the
property
will
will
fill
out
the
paperwork
to
convert
the
home
to
real
property.
They
send
it
to
manufactured
housing,
manufactured
housing
will
and
they
surrender
the
title
to
the
home
as
well.
The
personal
property
title
and
then
they
manufactured
housing
will
issue
what
they
call
a
real
property
notice
and
once
they
actually
issue
that
real
property
notice,
then
the
mobile
home
itself,
even
though
nothing
has
really
happened
with
that
home.
C
The
depreciation
converts
from
a
five
percent
depreciation
for
mobile
home
to
one
and
a
half
percent
appreciation
for
a
stig
built
structure.
So
we're
going
to
cost
that
structure
as
if
it
was
a
stick
built
home
and
then
it
would
get
the
one
and
a
half
percent
depreciation
for
the
maximum
50
years
or
75
percent
instead
of
getting
the
5
depreciation
each
year
for
20
years
or
maximum
of
80
percent.
C
So
it's
they
pay
a
little
bit
more
in
taxes
when
they
convert
it
to
real
property.
The
the
thing
about
that
is
once
a
home
is
converted
to
real
property.
They
can
actually
unconvert
it
to
real
property,
but
they
physically
have
to
remove
that
property
from
that
location
within
30
days,
so
so
that
they
wouldn't
get
the
benefit
of
getting
the
mortgage
and
getting
a
lower
interest
rate
from
converting
it
and
then
being
able
to
unconvert
it
to
personal
property.
They
just
that's,
not
they're,
not
able
to
do
that
in
nevada.
A
A
Okay,
all
right,
so
thank
you,
assessor,
johnson
and
assessor
dolly.
I
really
appreciate
it.
It
was
a
good
discussion,
it's
very
interesting,
to
hear
about
property
taxes.
It's
always,
I
guess
a
source
of
excitement,
but
I
know
you're,
like
I'm,
gonna
show
up
with
the
property,
tax
and
bacon
shirt
next
session
anyway,
but
we
will
go
ahead
and
close
out
these
presentations
and
open
up
for
public
comment.
A
A
Okay,
we'll
give
it
like
10
seconds,
but
we're
probably
not
going
to
have
a
lot
of
people
calling
in
saying.
I
really
really
want
to
talk
about
this.