Carson City property values drop another $157 million
Property tax assessments were mail out today to Carson City property owners, and according to Assessor Dave Dawley, the assessed value of property has dropped at least 10 percent — $155 million total — since last year.
The drop in value follows at $132 million decline the prior year.
The property assessments take into account property sales up to July 1.
Dawley said that this year there will be about $1.8 million in abatements, compared to $6 million last year, as falling values catch up to the annual caps imposed on assessed property value increases. Those caps kept taxes lower for property owner during the inflating real estate bubble.