Nev. Admin. Code § 361.040

Current through December 12, 2024

Section 361.040 - Affidavit for claiming exemption: Form; contents

The affidavit that a taxpayer who is claiming an exemption pursuant to paragraph (j) of subsection 1 of NRS 361.068 must file pursuant to paragraph (a) of subsection 3 of NRS 361.068 with the county assessor on or before June 15 of each year in which the taxpayer claims the exemption must:

1. Be notarized;

2. Be in a form prescribed by the Department; and

3. Contain:

(a) A statement that the work of fine art will meet the criteria set forth in paragraph (b) of subsection 4 of NRS 361.068 during the following fiscal year;

(b) A description of the work of fine art for which the taxpayer is claiming an exemption;

(c) The purchase price or appraisal value of the work of fine art;

(d) The fiscal year for which the exemption is sought; and

(e) A statement in substantially the following form:

"I, ____________, state under oath and pursuant to the conditions set forth in NRS 361.185 and 361.265, that the attached claim for the property tax exemption is made in good faith and to the best of my knowledge and belief is a true, correct and complete statement that said property meets the requirements of NRS 361.068. Further, I authorize the Nevada Tax Commission or its designee to inspect the fine art for public display for which I am claiming an exemption and any supporting documents, or otherwise verify the validity of my claim."

Nev. Admin. Code § 361.040

Added to NAC by Tax Comm'n by R047-01, eff. 12-17-2002

NRS 360.090, 361.068, 361.186