Clark County School District Capital Projects Funding Question
I’ve seen some confusion on how this tax is calculated; On what basis it is calculated. I did some research and then confirmed that the math works by examining 420 properties.
Firstly, in the voter guide, the “new” home description is a misnomer. It is “a” home, new or otherwise. It is a poorly written explanation. So according to CCSD.net http://ccsd.net/district/capital-improvement-plan/includes/pdfs/quick-facts-brochure.pdf, the tax is $0.21 per $100 of ASSESSED value. Assessed value is 35% of taxable value which is why the number is lower than what people think it should be when they try to calculate it (they are wrongly using taxable value not assessed value). The assessed value is the basis for our taxes not taxable value, how confusing is that for the layman?!?! And then just for clarification, taxable value actually has very little relation to sales price or market value. It is based on the depreciated replacement value of the house/improvements plus market value of the land. So, in other words, you can’t figure it out yourself. You just need to look at your tax record.
“Just for fun.” I just took the averaged assessed value for all homes that sold for exactly $100k in the past 12 months from the assessor’s data. The average was $33,284. So mulitple that by .21% and we get just about $70 which jives with the $72 that the school district claims will be the average impact on a $100k house. So, it certainly seems that it is based on the assessed value not taxable value and their calculations are just about right based on my four-hundred parcel analysis. Data here if you want it: http://www.houseofvegas.com/wp-content/uploads/2012/10/tax_2012_10_22_23_50_21.xls
4 minutes ago · Edited · Like