Nev. Admin. Code § 361.344 — 361.344

NAC 361.344    “Obsolescence” defined. ( NRS
360.090 , 361.320 )    “Obsolescence” means the
lessening of value due to causes other than physical causes and may be
functional where circumstances internal to the property item render it less
desirable or economic where circumstances external to the item and beyond the
control of the owner render the property item less desirable.
[Tax Comm’n, Property Tax Reg. part No. 15, eff. 10-30-79]