Nev. Rev. Stat. § 361.505 — Migratory property: Definition; placement on unsecured tax roll; proration of tax

NRS  361.505    Migratory property: Definition; placement on unsecured tax roll;
proration of tax.
1.  As used in NRS 361.505 to 361.5607 , inclusive, “migratory property”
means any movable personal property which the county assessor expects will not
remain in the county for a full fiscal year.
2.  Each county assessor, when he or she
assesses the migratory property of any person liable to taxation, shall place
it on the unsecured tax roll.
3.  The county assessor shall prorate the
tax on migratory property brought into or entering the State or county for the
first time during the fiscal year by reducing the tax one-twelfth for each full
month which has elapsed since the beginning of the fiscal year. Where such
property is owned by a person who does own real estate in the county of
sufficient value in the county assessor’s judgment to pay the taxes on both the
real and personal property of the person, the tax on the personal property for
the fiscal year in which the property was moved into the State or county,
prorated, may be collected all at once or by installments as permitted by NRS 361.483 for property assessed upon the
real property tax roll. The tax on personal property first assessed in May or
June may be added to the tax on that property for the ensuing fiscal year and
collected concurrently with it.
4.  The person who pays such taxes is not
thereby deprived of his or her right to have the assessment equalized, and if,
upon equalization, the value is reduced, the taxes paid must be refunded to
that person from the county treasury, upon the order of the county board of
equalization or State Board of Equalization in proportion to the reduction of
the value made.