Nev. Admin. Code § 361.125 — 361.125

NAC 361.125    Improvement: Initial taxable value. ( NRS 360.090 , 360.250 ,
361.227 )
1.  In determining the initial taxable value
of an improvement, the rate of depreciation is set forth in NRS 361.227 .
2.  If obsolescence, deterioration or wear
and tear causes the taxable value calculated pursuant to subsection 1 to exceed
the full cash value of the improvements, the additional depreciation and
obsolescence may be calculated separately.
(Added to NAC by Tax Comm’n by R031-03, eff. 8-4-2004)