What is the difference between the “appraised” and the “assessed” value of property?

The appraised value of your land is the Assessor's estimate of its market value, taking into account its location, zoning, actual use, etc. The appraised value of your buildings is their estimated replacement cost new less depreciation. When your property is new, the first tax bill you receive is based on your total assessed value, which is 35% of your total appraised value. Thereafter, depending on the type of property, your taxes are not to increase by more than 3% for primary residences or qualified rental properties and by a calculated percentage according to Nevada Revised Statutes 361.4722 for all other property. Changes in use or new construction added to your property is calculated outside the cap. Contact the Assessor's Office for more information.

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1. I received a Deed Processing Notice. What am I supposed to do?
2. What is the responsibility of the Assessor´s Office?
3. Why have values increased in such a poor economy?
4. What is this assessment card I get in the mail in December? What does it all mean?
5. Who determines the tax rate?
6. Who collects taxes?
7. What is the difference between the “appraised” and the “assessed” value of property?
8. Why would my taxes change?
9. What is factoring?
10. How often would my value change?
11. How does my assessed value relate to market value?
12. How can my taxes be increasing when values are dropping ?
13. What if I don't agree with my assessed value?
14. What statutes govern the Assessor's Office?