Nev. Admin. Code § 361.266 — 361.266

NAC 361.266    “Depreciation” defined. ( NRS
360.090 , 361.320 )    “Depreciation,” in an
appraisal sense, means the loss in value of an item due to all causes.
Sometimes it is meant to be physical deterioration, but in a strict sense it
would include functional and economic obsolescence.
[Tax Comm’n, Property Tax Reg. part No. 15, eff. 10-30-79]