Nev. Admin. Code § 361.1202 — 361.1202

NAC 361.1202    Land: Cost of development method. ( NRS 360.090 , 360.250 ,
361.227 )    When
using the cost of development method, a county assessor must:
1.  Perform that method in accordance with
the provisions of chapter 7 of Property Appraisal and Assessment
Administration , as adopted by reference in NAC 361.1177 .
2.  Deduct the following costs from an
estimate of the probable proceeds to be obtained from selling the land as
developed parcels:
(a) The direct costs of site preparation;
(b) The costs for utility hookups;
(c) Any other direct and indirect costs of
development; and
(d) A reasonable allowance for entrepreneurial
profit.
(Added to NAC by Tax Comm’n by R039-10, 8-13-2010, eff.
7-1-2012)