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State board cuts Reno parcel’s taxable value after landlocked and access dispute
Summary
The Nevada State Board of Equalization reduced the total taxable value for property at 7490 North Virginia Street in Reno to $106,387 after the petitioner argued access and topography shortcomings; Washoe County defended its appraisal but the board voted to lower the assessment.
The Nevada State Board of Equalization voted on June 4 to reduce the total taxable value of commercial property at 7490 North Virginia Street in Reno to $106,387 after hearing testimony from the property owner and the Washoe County assessor’s office.
Petitioner Joseph Panaccaro argued the site has significant access and topography defects that were not reflected in recent appraisals and presented comparables and sales evidence he said supported a much lower valuation. “The parcel is a small, 3rd acre in size,” Panaccaro said, describing steep grades, drainage easements and long‑standing surface and access issues he said depress value.
Shannon Scott of the Washoe County assessor’s office told the board the parcel is not currently landlocked and has direct access to North Virginia Street via a right‑of‑way, and that county appraisers verified sales and used a topography adjustment methodology. “Regarding the landlocked matter, the parcel is not currently landlocked. It has direct access to North Virginia Street through the right‑of‑way and is a fully functional industrial use property,” Scott said.
Board members questioned why prior adjustments had changed (Panaccaro said earlier rulings granted larger reductions that the county later removed) and pressed the assessor’s staff on whether mathematical, paired‑sale adjustments had been calculated and documented. Several members said the record lacked transparent computations showing why one parcel received a substantially different adjustment than a neighboring sale.
After rebuttal and deliberation, Member Curtis Cadwell moved to reduce the total taxable value to $106,387 based on the petitioner’s comp sales and evidence; the motion was seconded and the board voted in favor. The board’s vote followed discussion about ensuring valuation adjustments are supported by explicit analysis, but ultimately members said the petitioner’s evidence and questions about previous adjustments justified the reduction.
The decision resolves the appeal for tax years listed in the case file; the board closed the hearing and moved to the next docket item.
The Washoe County assessor’s office and the petitioner may take further procedural steps permitted by statute if they wish to appeal the board’s decision to district court.
