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Washoe County Board Upholds Assessor Valuations for Multiple Commercial Properties
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Summary
The Washoe County Board of Equalization on Feb. 23 upheld the assessor's taxable valuations for a string of commercial appeals — including Sparks Galleria, Lithia dealerships, Empire Cat and Garden Court — after appraisers presented sales- and income-based analyses and board members questioned comparables and data provided by petitioners.
Reno — The Washoe County Board of Equalization on Feb. 23 upheld the Washoe County Assessor's taxable valuations for a series of commercial property appeals, voting to sustain the assessor's determinations after staff presentations and brief board deliberations.
Appraisers from the assessor's office presented evidence for each contested parcel, citing sales-comparison and income approaches and, where applicable, cost or obsolescence adjustments. Adam Smith recommended upholding the assessor's valuation for the Audi/Land Rover/Jaguar parcels, noting the properties will be combined and that an active remodel permit will change land and improvement values in the 2026–27 reopen; “Therefore, it is recommended that the current value be upheld,” Smith said.
Harley Olsen presented the Sparks Galleria Shopping Center appeal (11 parcels, roughly 29.67 acres and about 215,000 square feet), describing an obsolescence adjustment done since 2023 and concluding the assessor's total taxable value of about $35,000,000 — roughly $162 per square foot — was supported by recent comparable sales and a tested income approach. “This year's adjustment resulted in an overall value of about 35,000,000 or $162 per square foot,” Olsen said. Olsen told the board that requested rent rolls had not been received from the owner since 2023.
For owner-occupied and specialty properties, the office relied more heavily on the cost approach. Jeff Cronin described the Empire Cat industrial campus as a purpose-built, owner-occupied facility and said statute requires a modified cost approach for such properties; he recommended upholding a taxable value near $13.17 million (about $84 per square foot). “Therefore we would recommend that the taxable value be upheld,” Cronin said.
Independent appraisers also reviewed Lithia dealerships and RC Willey; the assessor's presentations flagged instances where petitioner-submitted cost or sales comparables omitted statutory depreciation or included incorrect parcel references. Kelsey/Kelson Powell said petitioner land-comparable sales were located in the North Valleys and were not comparable to the subject site on Steamboat Parkway; Powell recommended upholding the assessor's $22.7 million valuation for the RC Willey site.
Steve Wood presented the Garden Court Investment Company's neurorehabilitation hospital appeal, noting a 2019 purchase and a 2022 addition that increased the facility's gross area and bed count; he said both sales- and income-approach testing supported the current taxable value of about $306 per square foot.
Board members asked questions about selection of comparables, the absence of up-to-date rent rolls in some packets, and statutory depreciation methods. In several cases appraisers told the board that petitioner-submitted data either omitted required statutory depreciation (1.5% per year referenced by staff) or misidentified parcel numbers that affected per-square-foot calculations.
Votes were taken on each matter after motion and second; the board carried motions to uphold the assessor's appraisals on the matters before it. The meeting included withdrawals and stipulations handled at the start of the session, and adjourned after roughly an hour and nine minutes.
Votes at a glance: - Withdrawal of Caesars Entertainment parcels (hearing 260041A / 260041X): motion accepted (withdrawn). - Stipulation (item 7, hearings 260002–260071): approved. - Finley Shuck / Audi/Land Rover/Jaguar (parcel 16316018, hearing 260012): assessor valuation upheld. - Sparks Galleria (parcel group 260013 A–K): assessor valuation upheld (~$35,000,000 total; $162/sq ft). - Lithia dealerships (parcels 01530136 & 01530138, hearings 260019A/B and related 260020): assessor valuations upheld. - Empire Cat / Cashman Equipment (parcel 03231241, hearing 260021): assessor valuation upheld (~$13,166,502; $84/sq ft). - RC Willey (APN 140-213-51, hearing 260022): assessor valuation upheld (~$22,722,000; $124/sq ft). - Garden Court Investment Company (APN 15001208, hearing 260023): assessor valuation upheld (~$306/sq ft).
Next steps: The board completed its oral record and noted parties retain appeal rights to the State Board of Equalization; several board members thanked staff and petitioners for compiling evidence.
