If you’re wondering about the latest property values in Nevada County, with the recent downturn in the economy, some impact is being felt. But Assessor Rolf Kleinhans says it’s not really significant. He notes the value of over 53-hundred of parcels, or eight-point-seven of the total number, did go down, due to the decline of the housing market….

click to listen to Rolf Kleinhans

Kleinhans says the assessed value of those properties will be reduced under the auspicies of Proposition Eight, as the market value is less than the factored base year value, also known as the Proposition 13 value. But he stresses it’s a temporary reduction and it’s also not a major loss of county property tax revenue. And he expects the market to stabilize more…

click to listen to Rolf Kleinhans

Meanwhile, the appeals process is always available. Kleinhans says if you have evidence that the full market value of your property, on January first, is less than your 2023-2024 assessed value you may wish to complete a “Request for Informal Assessment Review” form. It must be returned by December 15th.