Nev. Admin. Code § 361.61038 — 361.61038

NAC 361.61038    Determination of amount of net property taxes attributable to
remainder parcel for prior year; appeal of determination. ( NRS 360.090 , 361.4722 ,
361.4734 )
1.  Except as otherwise provided in
subsection 2, the amount of net property taxes attributable to the land area of
and any improvements to a remainder parcel for the prior year must be
determined as follows:
(a) Identify each of the parcels which contained
the land area of the remainder parcel in the prior year.
(b) Determine the taxable value of each of the
parcels identified in paragraph (a) for the prior year.
(c) Determine the total amount of taxes levied, or
which would have been levied but for any exemptions from taxation, in the prior
year on each of the parcels identified in paragraph (a) for the prior year.
(d) Calculate the effective tax rate for the
remainder parcel for the prior year by dividing the total amount of taxes
determined pursuant to paragraph (c) by the total of the taxable values
identified pursuant to paragraph (b).
(e) Determine the taxable value that the remainder
parcel would have had if a taxable value for the remainder parcel had been
separately established for the prior year based upon all the assumptions,
costs, values, calculations and other factors and considerations that would
have been used for the valuation of that property for that prior fiscal year.
(f) The amount of net property taxes attributable
to the remainder parcel for the prior year is the amount obtained by
multiplying the effective tax rate for the remainder parcel calculated pursuant
to paragraph (d) by the taxable value of the remainder parcel determined
pursuant to paragraph (e).
2.  The owner of a remainder parcel may
appeal to the Nevada Tax Commission pursuant to NRS 361.4734 and any regulations
adopted to carry out that section to show that the method prescribed in
subsection 1 produces an inequitable result. Pursuant to such an appeal, the
Nevada Tax Commission may use an alternative method that provides an equitable
result.
3.  As used in this section, “total amount of
taxes levied” means the lower of the total amount of property taxes assessed to
a parcel or the total amount of property taxes assessed as the result of a
final decision on an appeal, less the amount of any partial abatement of
property taxes applied to that parcel pursuant to NRS 361.4722 , 361.4723 or 361.4724 .
(Added to NAC by Tax Comm’n by R001-07, eff. 3-23-2007;
A by R021-17, 1-30-2019)
Improvement to or Change in Actual or Authorized Use of
Property