Nevada’s property tax statute says DEPRECIATION is the estimate of the decrease in value in a wasting asset (not land) due to such factors as use and obsolescence. In Nevada, for purposes of real property appraisal, depreciation is calculated at 1.5 percent of the cost of replacement for each year up to 50 years. Here’s how our property tax stacks up by housing built over the years. The infographic text is transcribed below.
Infographic Transcript
Douglas County, NV Housing Built by the Numbers
2070
Buckeye Farms at Park Ranch reverses the negative decline of Douglas County property tax through smart, planned growth.
Douglas County’ property tax on wasting assets will be more or less depleted due to Slow Growth Initiative
2020
Buckeye Farms project begins. Estimated completion 2040-2070.
2019
177*
*projected (44% of allocations used)
2013-2018
1,068 (47.5% of allocations used) Depreciating out beginning 2070
2010-2013
440 Depreciating out beginning 2060
2000-2009
4,771 Depreciating out beginning 2050. 2007 Slow Growth Initiative enacted
1990-1999
5,910 Depreciating out beginning 2040
1980-1989
5,078 Depreciating out beginning 2030
1970-1979
5,204 Depreciating out beginning 2020
1960-1969
1,591 Depreciated out 2010-2019
1950-1959
592 Depreciated out 2000-2009
1940-1949
211 Depreciated out 1990-1999
1939 and before
282 Depreciated out 1989 and before
Information courtesy of http://www.city-data.com/county/Douglas_county-NV.html and the Record Courier.
