Nev. Admin. Code § 361.344

Current through December 12, 2024

Section 361.344 - "Obsolescence" defined

"Obsolescence" means the lessening of value due to causes other than physical causes and may be functional where circumstances internal to the property item render it less desirable or economic where circumstances external to the item and beyond the control of the owner render the property item less desirable.

Nev. Admin. Code § 361.344

Tax Comm'n, Property Tax Reg. part No. 15, eff. 10-30-79

NRS 360.090, 361.320