Nev. Rev. Stat. § 361A.220 — Determination of value for open-space use; notification of assessment

NRS  361A.220    Determination of value for open-space use; notification of
assessment.
1.  If property is to be assessed as
open-space real property, the county assessor shall determine its value for
open-space use and assess it for taxes to be collected in the ensuing fiscal
year at 35 percent of that value.
2.  The open-space use assessment must be
maintained in the records of the assessor and must be made available to any
person upon request. The property owner must be notified of the open-space use
assessment in the manner provided for notification of taxable value
assessments. The notice must contain the statement: Deferred taxes will become
due on any portion of this parcel which is converted to a higher use.