Board upholds shopping‑center valuations but orders 10% traffic adjustment to land

The State Board of Equalization on June 4 upheld Washoe County’s land valuation approach for the Crossing shopping center (consolidated cases 26‑158 and 26‑159) but ordered a targeted 10% traffic adjustment to land values for the center’s four parcels.

Petitioners argued the center is functionally constrained — no signalized frontage, limited delivery access and lower interior build quality — so it should receive lower land per‑square‑foot values than nearby, better‑served centers. Counsel for the petitioners compared the center to nearby parcels that receive lower per‑square‑foot land values and argued the subject cannot support the same tenant mix or delivery logistics as superior properties.

County appraiser Diana Arias presented maps, sales evidence and Marshall & Swift quality‑class comparisons and said the county’s neighborhood‑wide approach and parcel classifications support the assessor’s values. The assessor noted many similarly situated parcels along South Virginia Street are valued in the same range once parcel size and economies of scale are considered.

After questioning, the board concluded the assessor’s quality class determinations were reasonable but that the subject parcel has notable ingress/egress constraints that warrant a traffic‑related reduction to land value. The board voted to uphold the assessor’s classification while applying a 10% traffic adjustment to land values across the four parcels comprising the shopping center.

The board indicated the assessor will implement the adjustment and update the county rolls accordingly; the decision also preserves the broader appraisal methodology used by the assessor for neighborhood equalization.