A dropping water table southwest of Las Vegas is apparently taking a big toll on some home values.
Last month, a San Miguel County panel decided to lower valuations for four properties in the Ojitos Frios subdivision, where some residents have been without water. This will likely mean reduced property taxes.
A recent market estimate for Jack and Betty Thompson’s property came in at $275,000. But the county has since reappraised the property at $22,000 — a loss of more than 90 percent.
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