Nev. Rev. Stat. § 361.47285 — Calculation of partial abatement when single-family residence is replaced after partial or complete destruction in certain emergencies or disasters

NRS  361.47285    Calculation of partial abatement when single-family residence is
replaced after partial or complete destruction in certain emergencies or
disasters.
1.  Notwithstanding the provisions of NRS 361.4722 , 361.4723 and 361.4724 , if a single-family residence
that is the primary residence of the owner is partially or completely destroyed
by a flood, fire, earthquake or other event for which a state of emergency or
declaration of disaster was proclaimed by the Governor pursuant to NRS 414.070 and if, pursuant to NRS 361.084 , the owner of the single-family
residence is granted an exemption of a portion of the assessed value of the
single-family residence, then for the purpose of calculating the amount of any
partial abatement to which the owner of the single-family residence is entitled
pursuant to NRS 361.4722 , 361.4723 or 361.4724 for the initial fiscal year for
which the exemption applies, the amount determined for the immediately
preceding fiscal year pursuant to paragraph (a) of subsection 1 of NRS 361.4722 , paragraph (a) of subsection
2 of NRS 361.4722 , paragraph (a) of
subsection 1 of NRS 361.4723 or
paragraph (a) of subsection 1 of NRS
361.4724 , as applicable, must be the amount determined for the fiscal year
in which the single-family residence was partially or completely destroyed.
2.  Notwithstanding the provisions of NRS 361.4722 , 361.4723 and 361.4724 , if, pursuant to NRS 361.084 , the owner of a single-family
residence is granted an exemption of a portion of the assessed value of the
single-family residence and, after the granting of the exemption, the single-family
residence is sold or transferred in a transaction to which the provisions of chapter 375 of NRS apply, then for the purpose of
calculating the amount of any partial abatement to which the owner of the
single-family residence is entitled pursuant to NRS 361.4722 , 361.4723 or 361.4724 for the first fiscal year
immediately following the sale or transfer of the single-family residence, the
owner is entitled only to a partial abatement from taxation provided pursuant
to NRS 361.4722 , 361.4723 or 361.4724 in an amount equal to the amount
of such a partial abatement to which the owner would have been entitled if the
exemption were not granted and the provisions of subsection 1 were not applied.
3.  As used in this section:
(a) “Primary residence of the owner” has the
meaning ascribed to it in NRS 361.4723 .
(b) “Single-family residence” has the meaning
ascribed to it in NRS 361.4723 .