Nev. Admin. Code § 361.1204 — 361.1204

NAC 361.1204    Land: Allocation method. ( NRS
360.090 , 360.250 , 361.227 )    When
using the allocation method, a county assessor must:
1.  Estimate the logical and proportionate
relationship of the value of land to the total value of real property by
analyzing:
(a) Historical sales of vacant land and improved
land in the same geographic market area as the subject property, without
limitation as to the dates of those sales;
(b) Sales of vacant land and improved land in
similar or competitive geographic market areas;
(c) Sales of vacant land compared to subsequent
sales of the same or substantially similar parcels after improvements have been
built; or
(d) Residual land values obtained using the abstraction
method;
2.  Apply the resulting ratio of land to
total value to sales of comparable improved land to determine the portion of
the sales prices attributable to land; and
3.  Analyze the land values obtained in the
same manner as sales of vacant land to establish comparative unit or base lot
values.
(Added to NAC by Tax Comm’n by R039-10, 8-13-2010, eff.
7-1-2012)