Nev. Rev. Stat. § 361.4729 — Calculation of partial abatement when taxable value of real property is reduced because of destruction, removal or overassessment of improvement

NRS  361.4729    Calculation of partial abatement when taxable value of real
property is reduced because of destruction, removal or overassessment of
improvement.    If the taxable value
of an improvement to real property is reduced as a result of:
1.  The partial or complete destruction or
removal of the improvement; or
2.  The correction pursuant to NRS 361.768 of an overassessment of the
improvement because of a factual error,
Ê then for the
purpose of calculating the amount of any partial abatement to which the owner
of the real property is entitled pursuant to NRS
361.4722 , 361.4723 or 361.4724 for the initial fiscal year for
which that reduction in taxable value 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 reduced by the same percentage as the
taxable value of the real property is reduced for that initial fiscal year as a
result of the partial or complete destruction or removal of the improvement to
the property or the correction of the overassessment of the improvement to the
property.