Clark County board reduces assessed value for Askaia home after appeal

The Clark County Board of Equalization on Feb. 13 voted to lower the quality rating used by assessors to value a newly completed house in the Ascaya community, reducing the property's assessed value after an appeal by the owner.

The change followed an hourlong hearing in which the homeowner, Timothy Colbert, argued the county's assessed value exceeded market comparables and the seller's own all-in construction cost. Assessors said the office's replacement-cost approach, using Marshall & Swift factors including wall height and other measured features, supported a higher value but that a lower quality class produced a figure closer to market evidence.

Colbert, who identified himself as the owner of 18 Sanctuary Peak and "the division president of D.R. Horton Homes, who is the general contractor of the property," told the board his all-in cost for the finished property, including land, was $4,092,000 and said recent closed sales and current MLS listings showed lower market prices for comparable houses in zip code 89012. "I think it's in the realm of 4 to 4 and a half million dollars," Colbert said during his testimony.

Clark County assessor staff described how they set taxable values using Marshall & Swift replacement cost new less depreciation and land market value. Matt Larson of the Clark County Assessor's Office told the board the assessor's recommended value for the subject was $5,064,997, or about $883 per square foot. Marianne Weidner, also with the assessor's office, explained the office's process: "We're valuing them off of Marshall and Swift. We're valuing them based on the variables that are in place on those buildings." Jamie Jacobs, another assessor appraiser, noted ceiling height can change the base price per square foot: "the wall height is 1 of the factors that can influence the base price per square foot."

After comparing the subject property with nearby sales and the assessor's records, staff produced alternate calculations at lower Marshall & Swift quality classes. The record shows a 7.2 quality class produced a total value of $4,097,700 and a 7.3 class produced a total value the assessor printed as $4,515,009.84. A board member moved to change the Marshall & Swift rating and adjust the assessed value; the motion passed. The board recorded one abstention (Kelly Wade) and one recorded "no" from a board member; the motion carried.

Board members and assessor staff said the most significant measured differences affecting replacement-cost calculations were wall (ceiling) height, garage size and home automation features. Assessor staff quantified the larger wall height and automation on the subject property as together accounting for several hundred thousand dollars of the difference when using Marshall & Swift factors.

Colbert acknowledged he and his firm built the house and disputed some of the assessor adjustments, telling the board he had not provided the full set of photos and comparative materials at the hearing and that those materials would be useful. The board granted a short recess so staff could compare property record cards and then reconvened to decide.

The board informed Colbert of his appeal rights; a member said, "Tim, you do have the right to take this to the state board." Colbert declined to pursue that option during the meeting.

No public comment was offered before the board heard the appeal. The board adjourned after completing the day's agenda.