Nev. Admin. Code § 361.1115 — 361.1115

NAC 361.1115    “Cost of development method” defined. ( NRS 360.090 , 360.250 )    “Cost of
development method” means a method used to estimate the value of undeveloped
land in which direct and indirect costs and entrepreneurial profit are deducted
from an estimate of the probable proceeds to be obtained from selling the land
as developed parcels and the resulting net income is discounted to a present
value at a market-derived rate.
(Added to NAC by Tax Comm’n by R031-03, eff. 8-4-2004)