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Nevada Property Tax Updates – Common Area Amenities

Common Area Amenities: The Sun City cases lay the foundation for successful appeals.

Homeowners associations often hold and manage common area amenities for the benefit of the residents of their respective communities. Those amenities range from parks and pathways, to swimming pools, recreation centers and golf courses.   The land and improvements that comprise the amenities are typically subject to restrictions on use and alienability that ensure the amenities will be maintained for the benefit of the residents in perpetuity.

In Nevada, county assessors value common area amenities using a replacement cost approach, which is reduced by statutory depreciation. The county assessors do not typically reduce the replacement cost value by additional obsolescence attributable to restrictions on the use and alienability of the property. However, the property owner is entitled to have the value reduced if it exceeds full cash value, which theoretically is a value which would consider the impact of restrictions on use and alienability.

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American Property Tax Counsel (APTC)

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