Nevada Administrative Code › Chapter 361 - Property Tax › PARTIAL ABATEMENT OF TAXES › Improvement to or Change in Actual or Authorized Use of Property › Section 361.610485 - Determination of amount of property taxes to be added to tax roll

Current through June 11, 2024
1. If a county assessor or the Department, as
			 applicable, does not make a determination in compliance with the provisions of
			 NAC 361.61047,
			 361.610475 or
			 361.61048 that there has been any
			 improvement to or change in the actual or authorized use of the subject
			 property, no amount of property taxes may be added to the tax roll for the
			 current fiscal year attributable to any incremental increase in the assessed
			 value of the property from the immediately preceding fiscal year as a result of
			 any improvement to or change in the actual or authorized use of the
			 property.
2. If a county assessor
			 or the Department, as applicable, makes a determination in compliance with the
			 provisions of NAC
			 361.61047,
			 361.610475 or
			 361.61048 that there has been any
			 improvement to or change in the actual or authorized use of the subject
			 property, the county assessor or the Department, as applicable, in cooperation
			 with the county treasurer, must:
(a) Determine
			 the assessed value for the current fiscal year of any new improvements made on
			 the land of the subject property, as determined for that fiscal year pursuant
			 to NAC 361.61047, by determining the
			 taxable value of such improvements in accordance with the provisions of
			 paragraph (b) of subsection 1 of
			 NRS
			 361.227 and multiplying that taxable value by
			 0.35.
(b) Determine the incremental
			 increase in the assessed value of the land of the subject property by:
(1) Determining the full cash value of the
			 land of the subject property in accordance with the provisions of paragraph (a)
			 of subsection 1 of NRS 361.227,
			 NRS
			 362.095 and paragraph (b) of subsection 1 of
			 NRS
			 362.100, as applicable, considering any
			 improvement to or change in the actual or authorized use of the property, as
			 determined pursuant to NAC 361.61047, 361.610475 or 361.61048.
(2) Determining the full cash value of the
			 land of the subject property in accordance with the provisions of paragraph (a)
			 of subsection 1 of NRS 361.227,
			 NRS
			 362.095 and paragraph (b) of subsection 1 of
			 NRS
			 362.100, as applicable, without considering
			 any improvement to or change in the actual or authorized use of the property
			 determined pursuant to NAC 361.61047, 361.610475 or 361.61048.
(3) Subtracting the amount determined
			 pursuant subparagraph (2) from the amount determined pursuant to subparagraph
			 (1). If the remainder is zero or a negative number, the amount determined
			 pursuant to this subparagraph shall be deemed to be zero.
(4) Multiplying the amount determined
			 pursuant to subparagraph (3) by the effective tax rate calculated for the
			 subject parcel.
(5) Dividing the
			 amount calculated pursuant to subparagraph (4) by the total rate of all
			 property taxes imposed on the subject parcel in the prior fiscal
			 year.
(c) Apply the sum
			 of the amounts determined pursuant to paragraphs (a) and (b) as the amount of
			 assessed value to be excluded from the calculation of any partial abatement and
			 the amount of any taxes to be added to the tax roll for the current fiscal year
			 attributable to any incremental increase in the assessed value of the property
			 from the immediately preceding fiscal year as a result of any improvement to or
			 change in the actual or authorized use of the property.