Nev. Rev. Stat. § 361.768 — Correction of overassessment of real or personal property because of factual error; adjustment for partial or complete destruction of real property improvement or personal property

NRS  361.768    Correction of overassessment of real or personal property
because of factual error; adjustment for partial or complete destruction of
real property improvement or personal property.
1.  If an overassessment of real or
personal property appears upon the secured tax roll of any county because of a
factual error concerning its existence, size, quantity, age, use or zoning or
legal or physical restrictions on its use within 3 years after the end of the
fiscal year for which the assessment was made, the county assessor shall make a
report thereof to the board of county commissioners of the county.
2.  The board of county commissioners shall
examine the error so reported, together with any evidence presented and, if
satisfied that the error is factual, shall:
(a) By an order entered in the minutes of the
board, direct the county treasurer to correct the error; and
(b) Deliver a copy of the order to the county
treasurer, who shall make the necessary adjustments to the tax bill and correct
the secured tax roll. The adjustment may be a full refund or a credit against
taxes due which may be allocated over a period no longer than 3 years.
3.  Partial or complete destruction of a
real property improvement or of personal property may be adjusted pro rata if
the destruction occurred on or after the lien date and the property was
rendered unusable or uninhabitable for a period of not less than 90 consecutive
days. The adjustments may be made in the form of a credit on taxes due or a
refund if taxes have been paid for the period. The county assessor shall notify
the county treasurer of each adjustment. The county assessor shall report
recommended adjustments to the board of county commissioners no later than June
30 of each fiscal year.