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In business real estate quarterly Supreme Court decisions could have statewide implications for HOAs By Cy Ryan staff writer CARSON CITY — Homeowners associations in Clark County are waiting anxiously for a decision from the Nevada Supreme Court on the tax value of certain buildings in the Sun City Summerlin Community Association. The court heard arguments on July 2 on the appeal of the Clark County Assessor's Office, which placed a $19.5 million value on four recreational clubhouses and a golf maintenance facility. But the state Board of Equalization reduced the value to $2,500. Paul Johnson, attorney for the Assessor's Office, told the court that its decision would have "broad" application. Outside the courtroom, Johnson said 15-20 associations have filed appeals on the same subject. James Susa, representing the 7,800home Sun City, urged the court to uphold the decision of the Board of Equalization on grounds that these buildings could not be used for commercial purposes. He argued that the law allows the property owner to appeal the valuation to the courts but that the law does not give that appeal right to the assessor. Susa argued that a "nominal" value should be placed on these buildings, which are not open to the public, and said the Board of Equalization found there was "substantial evidence" to back up the finding. Chief Justice Kristina Pickering told Susa there was nothing in the law to define "nominal" value. Johnson called the decision by the board "outrageous" and said the value should be determined by cost, less depreciation. He said that even though there is a restriction on selling the five structures, they still have value. The decision by the court, which took the case under submission, could affect the other associations, not only in Clark County but in Northern Nevada. Clark County District Judge Joanna Kishner ruled in favor of Sun City, finding that the restrictions and the zoning laws affect the property value, in a case focusing on the 2010-2011 valuations. real estate quarterly Home sales, construction up, but industry 'has a long way to go' By Eli Segall staff writer Southern Nevada's homebuilding business had another good showing last month with rising sales and construction plans. Local builders sold 696 new homes in May, up 74 percent from May 2012, ac- cording to a new report from Las Vegasbased Home Builders Research. The median price of last month's sales was $254,550, up 32 percent from a year earlier. Construction plans also remain on the upswing. Local builders pulled 809 permits in May — an "impressive" tally, the report said — up 22 percent from May 2012. But, as usual in his monthly report, Home Builders Research President Dennis Smith issued a note of caution. The industry, he said, is showing big year-to-year gains because it's rebounding from historic lows. "The housing market is definitely going in the right direction, but it still has a long way to go before anyone should believe the Las Vegas housing market is on 'solid ground,' " Smith wrote. SOLUTIONS AT WORK ® If you have employees, you have a reason to call us. 3800 Howard Hughes Parkway • Suite 950 • Las Vegas, NV 89169 • 702.252.3131 www.laborlawyers.com AtlAntA BAltimore Boston chArlotte chicAgo clevelAnd columBiA 12 20130722_VI12_F.indd 12 columBus dAllAs denver fort lAuderdAle gulfport houston irvine kAnsAs city lAs vegAs los Angeles louisville memphis new englAnd new jersey new orleAns orlAndo philAdelphiA phoenix portlAnd sAn Antonio sAn diego sAn frAncisco tAmpA wAshington,d.c. | 2 2 J U LY 2 0 1 3 | 7/18/13 2:11:28 PM