Nevada Appeal Staff Report

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January 10, 2013
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Appraisals won’t rise on rezoned parcels near freeway and Arrowhead

State appraisals on three rezoned property parcels near the freeway bypass and Arrowhead Drive won’t increase despite becoming retail-commercial, according to Margaret Orci, assistant chief right-of-way agent at the Nevada Department of Transportation. Orci said she checked on the appraisal process when she saw that the Carson City’s Board of Supervisors would consider altering the properties from single-family one-acre zoning to retail-commercial. Supervisors have since approved the rezoning.Orci said it could take months before any auction happens, if one does. The properties, just west of the freeway and north and south of Arrowhead at freeway exit 42, currently are undergoing state appraisal.To Arrowhead’s north are two parcels, a 0.15-acre sliver and a 1.6 acre parcel between Monk Court and Hospitality Court. To the south of an Arrowhead roundabout just west of the freeway is the biggest parcel, which covers 1.9 acres.A city planner said the parcels are at a high-visibility location. The exit at Arrowhead is from northbound freeway lanes and on the east side onto Arrowhead, which through a roundabout allows traffic to travel to the east or head west under the freeway toward Carson Street.Whatever the state appraisal, if the properties reach auction they could prompt bids as low as 90 percent of appraised value or less, said Orci. Enhanced market value could develop if commercial interests submit competing bids due to the location and zoning.

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The Nevada Appeal Updated Jan 10, 2013 03:09AM Published Jan 10, 2013 03:09AM Copyright 2013 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.