Nev. Admin. Code § 361.1225 — 361.1225

NAC 361.1225    Accrued depreciation: Application; calculation. ( NRS 360.090 , 360.250 ,
361.227 )    A county
assessor:
1.  Shall apply accrued depreciation when
determining:
(a) The value of improvements using the abstraction
method pursuant to NAC 361.1194 or
paragraph (d) of subsection 1 of NAC
361.1204 ; and
(b) The contributory value of improvements pursuant
to paragraph (b) of subsection 5 of NRS
361.227 .
2.  Shall calculate accrued depreciation by:
(a) The market extraction method;
(b) The economic age-life method; or
(c) The observed condition breakdown method,
Ê in accordance
with the provisions of chapter 8 of Property Appraisal and Assessment
Administration , as adopted by reference in NAC 361.1177 . When calculating accrued
depreciation by the economic age-life method, a county assessor may use the
life-expectancy tables provided in the most recent version of the Residential
Cost Handbook , Marshall Valuation Service , Residential Estimator
software or Commercial Estimator software, as appropriate, adopted by
reference in NAC 361.1177 .
3.  Shall not apply accrued depreciation when
determining the taxable value of any improvements pursuant to subsection 1 of NRS 361.227 .
(Added to NAC by Tax Comm’n by R039-10, 8-13-2010, eff.
7-1-2012)