Nev. Admin. Code § 361.610485 — 361.610485

NAC 361.610485    Determination of amount of assessed value excluded from
calculation of partial abatement and amount of property taxes to be added to
tax roll. ( NRS
360.090 , 361.4722 , 361.4723 ,
361.4724 )
1.  If a county assessor or the Department,
as applicable, does not make a determination in compliance with the provisions
of NAC 361.61047 , 361.610475 or 361.61048 that there has been any
improvement to or change in the actual or authorized use of the subject property,
no amount of property taxes may be added to the tax roll for the current fiscal
year attributable to any incremental increase in the assessed value of the
property from the immediately preceding fiscal year as a result of any
improvement to or change in the actual or authorized use of the property.
2.  If a county assessor or the Department,
as applicable, makes a determination in compliance with the provisions of NAC 361.61047 , 361.610475 or 361.61048 that there has been any
improvement to or change in the actual or authorized use of the subject property,
the county assessor or the Department, as applicable, in cooperation with the
county treasurer, must:
(a) Determine the assessed value for the current
fiscal year of any new improvements made on the land of the subject property,
as determined for that fiscal year pursuant to NAC 361.61047 , by determining the taxable
value of such improvements in accordance with the provisions of paragraph (b)
of subsection 1 of NRS 361.227
and multiplying that taxable value by 0.35.
(b) Determine the incremental increase in the
assessed value of the land of the subject property by:
(1) Determining the full cash value of the
land of the subject property in accordance with the provisions of paragraph (a)
of subsection 1 of NRS 361.227 , NRS 362.095 and paragraph (b) of
subsection 1 of NRS 362.100 , as
applicable, considering any improvement to or change in the actual or
authorized use of the property, as determined pursuant to NAC 361.61047 , 361.610475 or 361.61048 .
(2) Determining the full cash value of the
land of the subject property in accordance with the provisions of paragraph (a)
of subsection 1 of NRS 361.227 , NRS 362.095 and paragraph (b) of
subsection 1 of NRS 362.100 , as
applicable, without considering any improvement to or change in the actual or
authorized use of the property determined pursuant to NAC 361.61047 , 361.610475 or 361.61048 .
(3) Subtracting the amount determined pursuant
to subparagraph (2) from the amount determined pursuant to subparagraph (1). If
the remainder is zero or a negative number, the amount determined pursuant to
this subparagraph shall be deemed to be zero.
(4) Multiplying the amount determined pursuant
to subparagraph (3) by the effective tax rate calculated for the subject
parcel.
(5) Dividing the amount calculated pursuant to
subparagraph (4) by the total rate of all property taxes imposed on the subject
parcel in the prior fiscal year.
(c) Apply the sum of the amounts determined
pursuant to paragraphs (a) and (b) as the amount of assessed value to be
excluded from the calculation of any partial abatement and the amount of any
taxes to be added to the tax roll for the current fiscal year attributable to
any incremental increase in the assessed value of the property from the
immediately preceding fiscal year as a result of any improvement to or change
in the actual or authorized use of the property.
3.  In carrying out the provisions of this
section, a county assessor and the Department, as applicable, shall ensure that
the amount of any assessed value excluded from the calculation of any partial
abatement and the amount of any property taxes added to the tax roll for the
current fiscal year attributable to any incremental increase in the assessed
value of any property from the immediately preceding fiscal year as a result of
any improvement to or change in the actual or authorized use of the property:
(a) Is due solely to an incremental increase in the
assessed value of the property which is directly attributable to the
improvement to or change in the actual or authorized use of the property;
(b) Is not due to any increase in the assessed
value of the property as a result of any other cause, including, but not
limited to, a general appreciation in the market value of property in the area;
and
(c) Is assessed only to the specific property for
which the assessed valuation has increased as a result of any improvement to or
change in the actual or authorized use of that property.
4.  As used in this section, “effective tax
rate” means a rate determined for a subject property by dividing the total
amount of taxes assessed to the subject property, or which would have been
assessed to the subject parcel but for any exemptions from taxation, in the
fiscal year prior to any improvement to, or change in the actual or authorized
use of, the subject parcel, by the taxable value of the subject parcel for that
fiscal year.
(Added to NAC by Tax Comm’n by R109-08, eff. 12-17-2008;
A by R018-17, 2-27-2018)