Last year, a handful of people appealed the taxable value of their property and the hearings were done before lunchtime.
This year, the sudden decrease in property values over the last six months of 2008 resulted in a deluge of appeals to the Douglas County Board of Equalization.
The board heard 58 cases during two days last week, adjusting values for a substantial number of Douglas County private property owners.
"This year, the problem that we and the people had was that we have to set values for July 1," Assessor Doug Sonnemann said.
"During that time, certain areas plunged in value and the market in general went down. There were a lot of values where we had a cushion. For those areas where a market retreat occurred, those folks needed equalization and help."
Subdivisions such as Montana, Summit and Monterra took large hits in value.
"We're trying to come up with market sales for subdivisions and for bare land," Sonnemann said. "Bare land subdivision property has gone down two-thirds."
Sonnemann recommended several appeals for tax relief be denied by the board.
Among those was Max Baer's Beverly Hillbillies Resort and Casino, which owners felt should receive a tax break because it is involved in a lawsuit.
The property located north of Sunridge Drive is valued at $4.28 million by the assessor. Property owners sought a reduction in value to $3.12 million.
The bad year at Stateline resulted in a recommendation for a tax reduction for the Lakeside Inn.
"Market conditions have deteriorated due to the regional impact of California Indian gaming and the national economic recession resulting in a decline of business value," property owners wrote in their request.
Sonnemann recommended a 22.5 percent reduction to Lakeside improvements from the assessed $4.476 million to $3.469 million.
The Assessor's Office is still compiling the result of the board's actions. Where an adjustment has been made in the tax rate, surrounding properties are included, such as the 95 lots in Jobs Peak Ranch, whose values were lowered.
"The board listened to the logic from both sides," Sonnemann said. "Quite a few walked in here in agreement on the assessments based on fact. The county board made some great decisions."
Sonnemann said he didn't feel a blanket reduction in home values were justified in Douglas County.
"We felt the values needed to be fine tuned," he said.
n Kurt Hildebrand can be reached at khildebrand@recordcourier.com or 782-5121, ext. 215.
