Nev. Rev. Stat. § 361A.277 — Determination of taxable value when property converted to higher use

NRS  361A.277    Determination of taxable value when property converted to higher
use.    When any portion of
agricultural or open-space land is converted to a higher use, the county
assessor shall determine its taxable and, as appropriate, agricultural or
open-space use values against which to compute the deferred tax for each fiscal
year the property was under agricultural or open-space assessment during the
current fiscal year and the preceding 6 fiscal years, or such other period as
is required pursuant to NRS 361A.283 .
The taxable values for each year must be comparable for the corresponding years
to the taxable values for property similar, including, without limitation, in
size, zoning and location, to the portion of property actually converted to a
higher use. When agricultural land is converted to a higher use, the
agricultural use values for each of the years may be based on the agricultural
use for the latest year. When open-space land that is used as a golf course is
converted to a higher use, the taxable values for the property must be
determined, for the purpose of computing the deferred tax, in accordance with
the provisions of NRS 361.227 based upon
the assessment of the land as a golf course.