Nev. Rev. Stat. § 361.4732 — Effect of annexation of real property to taxing entity

Except as otherwise required to carry out the
provisions of NRS 361.4729 and any
regulations adopted pursuant to NRS
361.4733 , and notwithstanding any other provision of NRS 361.471 to 361.4735 , inclusive, to the contrary,
after a parcel or other taxable unit of real property is annexed to a taxing
entity:
1.  The amount otherwise required to be
determined 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 with respect to that property for the first fiscal year in which
that taxing entity is entitled to levy or require the levy on its behalf of any
ad valorem taxes on the property as a result of that annexation of the
property, shall be deemed to be the amount of ad valorem taxes which would have
been levied on the property for the immediately preceding fiscal year if the
annexation had occurred 1 year earlier, based upon the tax rates that would
have applied to the property for the immediately preceding fiscal year if the
annexation had occurred 1 year earlier and without regard to any exemptions
from taxation that applied to the property for the immediately preceding fiscal
year but do not apply to the property for the current fiscal year; and
2.  For the purposes of any other
calculations required pursuant to the provisions of NRS 361.471 to 361.4735 , inclusive, the combined
overlapping tax rate applicable to that property for the fiscal year immediately
preceding the first fiscal year in which that taxing entity is entitled to levy
or require the levy on its behalf of any ad valorem taxes on the property as a
result of that annexation of the property, shall be deemed to be the combined
overlapping tax rate that would have applied to the property for that year if
the annexation had occurred 1 year earlier.