Nev. Admin. Code § 361.610485

Current through December 12, 2024

Section 361.610485 - Determination of amount of property taxes to be added to tax roll

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.

3. In carrying out the provisions of this section, a county assessor and the Department, as applicable, shall ensure that the amount of any assessed value excluded from the calculation of any partial abatement and the amount of any property taxes added to the tax roll for the current fiscal year attributable to any incremental increase in the assessed value of any 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:

(a) Is due solely to an incremental increase in the assessed value of the property which is directly attributable to the improvement to or change in the actual or authorized use of the property;

(b) Is not due to any increase in the assessed value of the property as a result of any other cause, including, but not limited to, a general appreciation in the market value of property in the area; and

(c) Is assessed only to the specific property for which the assessed valuation has increased as a result of any improvement to or change in the actual or authorized use of that property.

4. As used in this section, "effective tax rate" means a rate determined for a subject property by dividing the total amount of taxes assessed to the subject property, or which would have been assessed to the subject parcel but for any exemptions from taxation, in the fiscal year prior to any improvement to, or change in the actual or authorized use of, the subject parcel, by the taxable value of the subject parcel for that fiscal year.

Nev. Admin. Code § 361.610485

Added to NAC by Tax Comm'n by R109-08, eff. 12-17-2008; A by R018-17AP, eff. 2/27/2018

NRS 360.090, 361.4722, 361.4723 and 361.4724