Nev. Admin. Code § 361.61036 — 361.61036

NAC 361.61036    Calculation of amount of abatement and maximum amount of property
taxes. ( NRS
360.090 , 361.4722 )
1.  The partial abatement for a remainder
parcel must be calculated as follows:
(a) Determine the amount of net property taxes
attributable to the land area of and any improvements to the remainder parcel
for the prior year as provided in NAC
361.61038 .
(b) Multiply the net property taxes determined in
accordance with subsection 1 by the abatement percentage applicable to the
remainder parcel for the current year.
(c) Add the amounts determined pursuant to
paragraphs (a) and (b). If the sum is:
(1) Less than the amount of taxes that would
have been assessed on the remainder parcel for the current year without the
abatement, the difference constitutes the amount of the partial abatement for
the remainder parcel for the current year.
(2) Greater than or equal to the amount of
taxes that would have been assessed on the remainder parcel for the current
year without the abatement, then there is no partial abatement for the
remainder parcel for the current year.
2.  The maximum amount of property taxes
which may be levied on a remainder parcel for the current year must be
calculated as follows:
(a) Determine the amount of property taxes to be
added to the tax roll in the current year attributable to:
(1) An incremental change in land value
resulting from a change in the actual or authorized use of the remainder
parcel; or
(2) A new improvement to the remainder parcel,
Ê that would
not have been included in the calculation of the assessed value of the
remainder parcel for the prior year had a separate valuation for the remainder
parcel been established in the prior year.
(b) Add the amounts determined pursuant to
paragraph (a) and paragraphs (a) and (b) of subsection 1 to determine that
maximum amount.
(Added to NAC by Tax Comm’n by R001-07, eff. 3-23-2007)