Nevada County’s assessed values grew 6 percent last year, a positive reflection of property value growth according to a release from Nevada County Assessor Sue Horne.
The county’s locally assessed value for the 2017/18 assessment year totaled $18.3 billion, up more than $1 billion from last year’s $17.3 billion, the release stated.
The county’s unincorporated area saw the largest percentage growth at 6.23 percent, resulting in a total net value reaching $9.8 billion. Grass Valley weighed in at 5.84 percent with its secured values totaling $1.5 billion. Nevada City’s assessable property values totaled $535 million, reflecting a 5.98 percent increase over 2016. Truckee saw a 5.93 percent growth totaling $6.2 billion in assessed values.
Under Proposition 8, the Assessor must annually review fair market values on Jan. 1 to determine whether a value adjustment is warranted on properties that have received a temporary reduced value in a prior year, the release stated.
Contact the Assessor’s office at firstname.lastname@example.org or call 530-265-1232 with questions.
Source: Nevada County Assessor Sue Horne
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