Nev. Admin. Code § 361.282 — 361.282

NAC 361.282    “Fair market value” defined. ( NRS
360.090 , 361.320 )    “Fair market value” means
the highest price estimated in terms of money which a property will bring if
exposed for sale in the open market allowing a reasonable time to find a
purchaser who buys with full knowledge of all the uses to which it is adapted
and for which it is capable of being used.
[Tax Comm’n, Property Tax Reg. part No. 15, eff. 10-30-79]