Assessed property values climb 5.93 percent in Truckee; 6 percent in Nevada County

Nevada County’s assessed values grew 6 percent last year, a positive reflection of property value growth according to a report 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 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 assessed 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 report stated.

Contact the assessor’s office at assessor@co.nevada.ca.us or call 530-265-1232 with questions.