Property tax bills in Pahrump Valley are set to go down slightly after Nye County commissioners approved a lower tax rate this week.
The town of Pahrump property tax rate will decrease from $479.50 to $455.10 for property assessed valuations of $100,000. The change will take effect on July 1 and will be revisited in two years.
The Pahrump Valley Times reports Nye County Comptroller Savannah Rucker recommended not to make any changes to the existing rate, but commissioners approved the lower tax rate 3-2.
Pahrump has seen an average increase of 4 percent in property taxes based on trends over the last five years.
With property tax values declined, property tax rates must increase to cover the town’s operational expenditures. Assessed values are currently on the rise across the county, however they are significantly down from the high in 2010.