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Carson City board accepts stipulated lower appraisal for Home Depot property
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Summary
The Carson City Board of Equalization approved a stipulated reduction in the 2025 appraised value for the Home Depot at 3185 Market Street, lowering the appraised value to $10,897,484; the assessor’s office said the change will not alter property taxes because of the property tax cap. Item for Lowe’s was withdrawn.
Carson City’s Board of Equalization voted Feb. 18 to accept a stipulated reduction in the appraised value for the Home Depot property at 3185 Market Street, setting the fiscal 2025 appraised value at $10,897,484.
The reduction was presented by Kimberly Adams, Carson City assessor, who told the board the subject is a 107,063-square-foot Home Depot building on a 10.96-acre retail parcel that sold Dec. 8, 2020, for $10,200,000. Adams said the assessor’s office had a prior taxable value of $2,864,502 and an improvement taxable value of $8,556,252 and that, after reviewing data provided by Home Depot and applying an income approach, the office derived a reduced appraised value by lowering the improvement value by $523,270.
"The reduction in this valuation will not have an effect on the property taxes themselves due to the property tax cap," Adams said.
Board member Jeremy Sapoznik moved to accept the reduction, a motion that was seconded and carried on a voice vote. The board did not record individual roll-call votes in the hearing record; the chair announced the motion carried.
Also on the agenda, item 5B — a petition concerning Lowe’s, APN 00401227, case number 2025000025 — was withdrawn and required no motion, the board noted.
Public comment at the meeting included a brief remark from resident Denny French, who said he was following items 5A and 5B and was interested in the review process. Deputy District Attorney Adam Tully administered the oath at the start of the meeting for witnesses and staff.
The board held the action during a regularly scheduled Board of Equalization meeting convened in the Bob Kroll boardroom. No additional directions to staff or conditions on the stipulation were recorded in the hearing minutes.
