Nev. Rev. Stat. § 361.261 — Determination of assessed value of property that is not being reappraised: Adoption of factors for improvements

NRS  361.261    Determination of assessed value of property that is not being
reappraised: Adoption of factors for improvements.    The
factors for improvements required by subsection 5 of NRS 361.260 must be adopted pursuant to the
following procedure:
1.  On or before February 1 of the year
immediately preceding the year to which the factors will be applied, the
Department shall provide the proposed factors to each county assessor.
2.  On or before May 15 of the same year,
each county assessor shall notify the Nevada Tax Commission that he or she
either approves or objects to the proposed factors that are applicable to the
county he or she represents.
3.  If one or more of the county assessors
notify the Nevada Tax Commission of an objection to the proposed factors that
are applicable to the county they represent, the Nevada Tax Commission shall,
at a regularly scheduled meeting of the Commission, hold a hearing on those
proposed factors before the factors are adopted. At the hearing, the Nevada Tax
Commission shall:
(a) Make every effort to reconcile the objection
or objections of each county assessor; and
(b) Provide to those persons attending the
hearing copies of any published reference manuals and the local indicators of
the taxable value of improvements that were used by the Department to establish
the proposed factors.