Nev. Admin. Code § 361.11795 — 361.11795

NAC 361.11795    Land: Sales comparison approach using mass appraisal technique. ( NRS 360.090 , 360.250 ,
361.227 )    A county
assessor shall apply the sales comparison approach using a mass appraisal
technique as follows:
1.  The county assessor shall stratify the
properties being appraised into groups based upon location, zoning, use or
other relevant characteristics. Sufficient strata must be established to ensure
that all types of property subject to appraisal are appropriately represented.
2.  After stratification pursuant to
subsection 1, the county assessor shall:
(a) For each stratum:
(1) Analyze sales of comparable land; and
(2) Make adjustments to the sales prices as
necessary to eliminate any nonrealty components of value and any differences
resulting from the real property rights conveyed, financing terms, conditions
of sale, market conditions, location, physical characteristics, size, zoning,
use, governmental restrictions, sales concessions and expenditures made after
sales that influence sales prices; and
(b) Determine an appropriate base lot or comparative
unit value to be used as a benchmark for valuing the properties in each stratum
and, if appropriate, market adjustments to the base lot or comparative unit
value for differences in physical characteristics, size, zoning, use, view,
governmental restrictions and other attributes that affect value. The
adjustments:
(1) Must be mathematical changes made to the
base lot or comparative unit values to account for differences in the elements
of comparison between the base lot or comparative unit and the subject
property;
(2) May be made only to the base lot or
comparative unit value in order to reflect the value of the subject property;
and
(3) May be made by adding or subtracting
lump-sum dollar values, or by applying positive or negative percentage
differentials, to the base lot or comparative unit values.
(Added to NAC by Tax Comm’n by R166-07, eff. 6-17-2008;
A by R039-10, 8-13-2010, eff. 7-1-2012)