Nev. Admin. Code § 361.6075 — 361.6075

NAC 361.6075    General abatement: Taxable unit of centrally assessed property;
ineligible property of interstate or intercounty company. ( NRS 360.090 , 361.4722 )
1.  For the purposes of NRS 361.4722 , the value of any
centrally assessed property which is allocated and apportioned to a taxing
district shall be deemed to constitute a taxable unit of real or personal
property in that taxing district.
2.  Property of an interstate or intercounty
company valued pursuant to NRS
361.320 which is not eligible for a general abatement for the current year
includes, without limitation:
(a) That portion of the unit valuation of such
property for which there was no allocation or apportionment within Nevada for
the immediately preceding year;
(b) New property placed on the unsecured tax roll
and classified as construction work in progress; and
(c) That portion of the unit valuation of such
property for which there is an increase in the cost indicator of value from the
immediately preceding year, unless it has already been reported to the
Department as construction work in progress and the taxpayer certifies that the
pertinent capital expenditures will be reported as part of construction work in
progress before being transferred to the accounting records of the company for
plant in service.
3.  For the purposes of this section,
“construction work in progress” has the meaning ascribed to it in NAC 361.258 .
(Added to NAC by Tax Comm’n by R011-06, eff. 5-4-2006)