Nev. Rev. Stat. § 361.69 — Household goods and furniture exempted; exclusion of rental property

NRS  361.069    Household goods and furniture exempted; exclusion of rental
property.
1.  Except as otherwise provided in this
section, household goods and furniture are exempt from taxation.
2.  Except as otherwise provided in
subsection 3, appliances and furniture which are owned by a person who engages
in the business of renting the appliances or furniture to other persons are not
exempt from taxation.
3.  Except as otherwise provided in this
subsection, the assessment of rented or leased appliances or furniture, or
both, of a time-share project governed by the provisions of chapter 119A of NRS, which contains five or
more units, must be reduced by a percentage equal to the average percentage of
time that all of the units are occupied by an owner of a time share in the
project. If the units of the time-share project are occupied by owners of time
shares in the project for an average of more than 90 percent of the fiscal
year, the rented or leased appliances or furniture, or both, are exempt from
taxation. As used in this subsection:
(a) “Owner” has the meaning ascribed to it in NRS 119A.056 .
(b) “Unit” has the meaning ascribed to it in NRS 119A.160 .
4.  As used in this section:
(a) “Household goods and furniture” includes,
without limitation, the following items if used in a residence:
(1) Clothing;
(2) Personal effects;
(3) Gold and silver;
(4) Jewelry;
(5) Appliances that are not attached to
real property or a mobile or manufactured home;
(6) Furniture;
(7) Recreational equipment not required by
NRS to be registered; and
(8) Portable goods and storage sheds and
other household equipment.
(b) “Engages in the business of renting
appliances or furniture” means:
(1) Renting or leasing appliances or
furniture, or both, to other persons not in conjunction with the rental or
lease of a dwelling unit; or
(2) Renting or leasing appliances or
furniture, or both, to other persons in conjunction with the rental or lease of
a dwelling unit located in a complex containing five or more dwelling units
which are rented or leased by the owner to other persons in conjunction with
appliances or furniture, or both.