Nev. Admin. Code § 361.118 — 361.118

NAC 361.118    Land: Sales comparison approach using single property technique. ( NRS 360.090 , 360.250 ,
361.227 )    A county
assessor shall apply the sales comparison approach using a single property
technique as follows:
1.  The county assessor shall adjust the
sales prices or unit values of comparable properties as necessary to eliminate
differences between the comparable properties and the subject property that
affect value. The adjustments:
(a) Must be mathematical changes made to the sales
prices or unit values of the comparable properties to account for differences
in elements of comparison between the comparable properties and the subject
property;
(b) May be made only to the comparable properties,
and not to the subject property; and
(c) May be made by adding or subtracting lump-sum
dollar values, or by applying positive or negative percentage differentials, to
the sales prices or unit values of the comparable properties.
2.  The elements of comparison between the
comparable properties and the subject property that may be used by the county
assessor include, without limitation, the real property rights conveyed,
financing terms, conditions of sale, market conditions, location, physical
characteristics, size, zoning or use, governmental restrictions and nonrealty
components of value.
3.  After adjusting the comparable properties
for differences that affect value, the county assessor shall analyze the range
of adjusted sales prices of the comparable properties to arrive at an estimate
of value for the subject property.
[Tax Comm’n, Property Tax Reg. part No. 2, eff. 1-14-82]—(NAC
A by R031-03, 8-4-2004; R166-07, 6-17-2008)