Nev. Admin. Code § 361.1295 — 361.1295

NAC 361.1295    Taxable value of land within qualified subdivision. ( NRS 360.090 , 360.250 ,
361.227 )
1.  In determining the taxable value of land
within a qualified subdivision, the county assessor shall use, as he or she
deems appropriate based upon the available information concerning the
subdivision:
(a) The full cash value of the subdivision as
vacant land, plus all actual costs of site preparation, including on-site
enhancements and off-site enhancements;
(b) The selling price of any comparable subdivision
or group of parcels, adjusting that price as appropriate to reflect differences
between the land sold and the land being appraised; or
(c) The estimated retail selling price of all
parcels in the subdivision which are not sold, rented or occupied, reduced by
the percentage specified for the expected absorption period of the parcels:
Expected
Absorption Period
Percentage
of Reduction
(Years)
1
- 3....................................
20
4
- 6....................................
30
7
- 9....................................
40
10
or more..........................
50
2.  The taxable value determined as provided
in subsection 1 must be allocated to each parcel in the subdivision which is
not sold, rented or occupied according to the size and other characteristics of
that parcel.
3.  The taxable value of any improvements
made within a qualified subdivision must be determined as provided by NRS 361.227 .
(Added to NAC by Tax Comm’n, eff. 11-14-88; A by R039-10,
8-13-2010, eff. 7-1-2012)