Making Sense of HOA Property Taxes
Community Interests, Feb 01, 2018
Property Tax On Common Elements: Where is the tax assessed?
Associations often hold and manage common elements for the benefit of the property owners in their communities. The common elements range from parks and pathways, to swimming pools, recreation centers and golf courses. Or, in multi-story communities the common elements might consist of parking areas, interior hallways, and elevators. These common elements are subject to property tax, but it is often a hidden tax, making it difficult to identify and, if appropriate, challenge. Consequently, there are two steps involved in evaluating and managing property tax assessed on common elements. First, there must be an understanding of what properties are owned by the association and where the tax on that property is being assessed. Second, the valuation of the properties must be evaluated to ensure it is fair and equitable.
To read entire article click here.
About McDonald Carano
McDonald Carano has been shaping Nevada’s legal, business, and policy landscape since our founding in 1949. With more than 60 lawyers and government affairs professionals working from offices in Reno, Las Vegas, and Carson City, we are Nevada’s law firm for business. Our local, national and international clients include Fortune 500 corporations, fast-growth and mid-market companies, entrepreneurs and startups, non-profit organizations, government entities, and high-net-worth individuals. Our attorneys deliver cross-discipline, one-stop, business law and government affairs counsel. Please visit mcdonaldcarano.com
Media Contact
Mark Buckovich
mbuckovich@mcdonaldcarano.com
702.257.4559
You have chosen to send an email to McDonald Carano. The sending or receipt of this email and the information in it does not in itself create an attorney-client relationship. If you are not already a client, you should not provide us with information that you wish to have treated as privileged or confidential without first speaking to one of our lawyers. If you provide information before we confirm that you are a client and that we are willing and able to represent you, we may not be required to treat that information as privileged, confidential, or protected information, and we may be able to represent a party adverse to you.
I have read this and want to send an email.