Section 361.61036 - Calculation of amount of abatement and maximum amount of property taxes1. The partial abatement for a remainder parcel must be calculated as follows:(a) Determine the amount of net property taxes attributable to the land area of and any improvements to the remainder parcel for the prior year as provided in NAC 361.61038.(b) Multiply the net property taxes determined in accordance with subsection 1 by the abatement percentage applicable to the remainder parcel for the current year.(c) Add the amounts determined pursuant to paragraphs (a) and (b). If the sum is:(1) Less than the amount of taxes that would have been assessed on the remainder parcel for the current year without the abatement, the difference constitutes the amount of the partial abatement for the remainder parcel for the current year.(2) Greater than or equal to the amount of taxes that would have been assessed on the remainder parcel for the current year without the abatement, then there is no partial abatement for the remainder parcel for the current year.2. The maximum amount of property taxes which may be levied on a remainder parcel for the current year must be calculated as follows:(a) Determine the amount of property taxes to be added to the tax roll in the current year attributable to: (1) An incremental change in land value resulting from a change in the actual or authorized use of the remainder parcel; or(2) A new improvement to the remainder parcel, that would not have been included in the calculation of the assessed value of the remainder parcel for the prior year had a separate valuation for the remainder parcel been established in the prior year.(b) Add the amounts determined pursuant to paragraph (a) and paragraphs (a) and (b) of subsection 1 to determine that maximum amount.Nev. Admin. Code § 361.61036
Added to NAC by Tax Comm'n by R001-07, eff. 3-23-2007