Nev. Admin. Code § 361.302 — 361.302

NAC 361.302    “Functional depreciation” defined. ( NRS 360.090 , 361.320 )    “Functional
depreciation” means the loss of service usefulness or obsolescence due to
technological advances or social requirements.
[Tax Comm’n, Property Tax Reg. part No. 15, eff. 10-30-79]