Nev. Rev. Stat. § 361.155 — Exemptions: Filing of claims and designations; duration and amount; assessment and penalty for erroneous grant or renewal; review of late or denied claim

NRS  361.155    Exemptions: Filing of claims and designations; duration and
amount; assessment and penalty for erroneous grant or renewal; review of late
or denied claim.
1.  Except as otherwise provided in this
section and NRS 361.084 :
(a) All claims for personal tax exemptions on
real property, the initial claim of an organization for a tax exemption on real
property and the designation of any amount to be credited to the Gift Account
for the Veterans Home in Southern Nevada or the Gift Account for the Veterans
Home in Northern Nevada pursuant to NRS
361.0905 must be filed on or before June 15.
(b) An initial claim for a tax exemption on real
property acquired after June 15 and before July 1 must be filed on or before
July 5.
2.  All exemptions provided for pursuant to
this chapter apply on a fiscal year basis, and any exemption granted pursuant
to this chapter must not be in an amount which gives the taxpayer a total
exemption greater than that to which the taxpayer is entitled during any fiscal
year.
3.  Except as otherwise provided in this
section, each claim for an exemption provided for pursuant to this chapter must
be filed with the county assessor of:
(a) The county in which the claimant resides for
personal tax exemptions; or
(b) Each county in which property is located for
the tax exemption of an organization.
4.  After the initial claim for an
exemption pursuant to NRS 361.084 , 361.088 or 361.098 to 361.150 , inclusive, an organization is not
required to file annual claims if the property remains exempt. If any portion
of the property loses its exemption pursuant to NRS 361.157 or for any other reason becomes
taxable, the organization must notify the county assessor.
5.  If an exemption is granted or renewed
in error because of an incorrect claim or failure of an organization to give
the notice required by subsection 4, the assessor shall assess the taxable
portion of the property retroactively pursuant to NRS 361.769 and a penalty of 10 percent of
the tax due for the current year and any prior years may be added.
6.  If a claim for a tax exemption on real
property and any required affidavit or other documentation in support of the
claim is not filed within the time required by subsection 1, or if a claim for
a tax exemption is denied by the county assessor, the person claiming the
exemption may, on or before January 15 of the fiscal year for which the claim
of exemption is made, file the claim and any required documentation in support
of the claim with the county board of equalization of the county in which the claim
is required to be filed pursuant to subsection 3. The county board of
equalization shall review the claim of exemption and may grant or deny the
claim for that fiscal year, as it determines to be appropriate. The State Board
of Equalization shall establish procedures for:
(a) The review of a claim of exemption by a
county board of equalization pursuant to this subsection; and
(b) The appeal to the State Board of Equalization
of the denial of a claim of exemption by a county board of equalization pursuant
to this subsection.