Nev. Admin. Code § 361.1334 — 361.1334

NAC 361.1334    Valuation of and assessment of tax on community units and common
elements. ( NRS
360.090 , 360.250 , 361.233 )
1.  A county assessor shall:
(a) Determine the taxable value of each community
unit of a common-interest community separately and assess the tax thereon to
the current owner of the community unit; and
(b) Determine the taxable value of the common
elements of a common-interest community separately and assess the tax thereon
to the current owners of the community units of the common-interest community
as provided in NAC 361.1336 .
2.  If a parcel includes both a community
unit and any portion of the common elements of a common-interest community, a
county assessor shall:
(a) Determine the taxable value of any improvements
and land that comprise that community unit separately and assess the tax
thereon to the current owner of the community unit; and
(b) Determine the taxable value of any improvements
and land that comprise that portion of the common elements of the
common-interest community and assess the tax thereon to the current owners of
the community units of the common-interest community as provided in NAC 361.1336 .
3.  For the purposes of:
(a) Paragraph (a) of subsection 1, the taxable
value of the common elements of a common-interest community must not enhance or
be reflected in the taxable value of a community unit of that common-interest
community; and
(b) Paragraph (a) of subsection 2, the taxable value
of any improvements and land that comprise the common elements of a
common-interest community must not enhance or be reflected in the taxable value
of any improvements and land that comprise a community unit of that
common-interest community.
(Added to NAC by Tax Comm’n by R183-07, eff. 8-26-2008)