Nev. Admin. Code § 361.452 — 361.452

NAC 361.452    Cost approach indicator of value. ( NRS 360.090 , 361.320 )    The cost
approach consists of:
1.  Determining the gross book cost for
financial reporting purposes of all taxable operating property, including,
without limitation, airframes, engines, propellers, radio equipment,
miscellaneous flight equipment, spare parts and assemblies, leased aircraft,
improvements to leased equipment, construction work in progress, ground
property and equipment, land, expendable parts, materials and supplies, and
leased property; and
2.  Deducting from the gross book cost the
accrued book depreciation recorded for financial reporting purposes, which may
include, without limitation, physical, functional and economic obsolescence.
Additional obsolescence must be deducted when adequately quantified.
[Tax Comm’n, Property Tax Reg. part No. 15D, eff. 10-30-79]—(NAC
A 9-30-88; R026-99, 1-27-2000)