What is factoring?

There are two types of land factors and improvement factors. Both are used to keep values current. Land factors are determined by sale prices of land in areas and neighborhoods and are applicable to land not currently in the reappraisal cycle. Statistical analysis of sales in an area or neighborhood is used to arrive at a factor for that particular area. Factors can be negative, positive or neutral thereby increasing values, decreasing values or leaving them alone. The Assessor´s Office and the Department of Taxation, Division of Assessment Standards, determine the factors for land and they are taken to the Nevada Tax Commission for approval. The Nevada Tax Commission is responsible for determining improvement factors for given areas around the state and those factors are based on changes in building costs from year to year.

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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?