NRS 361.2285
Adoption of regulations regarding use of income approach for valuation of real property used to conduct business.

The Nevada Tax Commission shall adopt regulations which:

1.

Provide for the creation of a simple, easily understood form which may be completed by the owner of any real property used to conduct a business and used to:

(a)

Compute and determine the value of the property using the income approach and to compare that value to the existing taxable value of the property to determine the existence of any obsolescence; and

(b)

Apply to the appropriate county assessor or board of equalization for computation of the taxable value of the property in accordance with subsection 5 of NRS 361.227.

2.

Clearly set forth the methodology for applying the income approach to valuation for tax purposes of real property used to conduct a business to determine whether obsolescence is a factor. The methodology must be described in a manner that may be easily understood by the owners of such property.

3.

Will make available to the owner of any real property used to conduct a business information that will allow the owner to apply the income approach to establish the full cash value of the property for the purpose of comparing that value to the taxable value established by the county assessor.

Source: Section 361.2285 — Adoption of regulations regarding use of income approach for valuation of real property used to conduct business., https://www.­leg.­state.­nv.­us/NRS/NRS-361.­html#NRS361Sec2285.

361.225
Rate of assessment. 361.227
Determination of taxable value. 361.228
Intangible personal property: Exemption from taxation 361.229
Adjustment of actual age of improvements in computation of depreciation. 361.233
Assessment and valuation of real property within common-interest community. 361.235
Assessment of corporate stock and property of partnership 361.240
Assessment of undivided property of deceased and insane persons 361.244
Classification of mobile or manufactured homes and factory-built housing as real property. 361.245
Personal property subject to security interest. 361.260
Method of assessing property for taxation 361.261
Determination of assessed value of property that is not being reappraised: Adoption of factors for improvements. 361.263
Issuance of subpoenas by county assessors 361.265
Written statement concerning personal property: Demand 361.275
Liability of county assessor for taxes not assessed through willful or inexcusable neglect 361.280
District attorney to report unassessed property to county commissioners 361.295
Assessment of real property by two counties: Examination and determination by Department. 361.300
Time and manner for completion of secured tax roll 361.305
Preparation by county assessor of maps or plats of city blocks and subdivisions. 361.310
Time and manner for completion of assessment roll 361.2275
Determination of status of property as leased or used. 361.2285
Adoption of regulations regarding use of income approach for valuation of real property used to conduct business. 361.2445
Conversion of mobile or manufactured home from real to personal property.
Last Updated

Feb. 5, 2021

§ 361.2285’s source at nv​.us