NRS 361.4729
Calculation of partial abatement when taxable value of real property is reduced because of destruction, removal or overassessment of improvement.

If the taxable value of an improvement to real property is reduced as a result of:

1.

The partial or complete destruction or removal of the improvement; or

2.

The correction pursuant to NRS 361.768 of an overassessment of the improvement because of a factual error,

Ê then for the purpose of calculating the amount of any partial abatement to which the owner of the real property is entitled pursuant to NRS 361.4722, 361.4723 or 361.4724 for the initial fiscal year for which that reduction in taxable value applies, the amount determined for the immediately preceding fiscal year pursuant to paragraph (a) of subsection 1 of NRS 361.4722, paragraph (a) of subsection 2 of NRS 361.4722, paragraph (a) of subsection 1 of NRS 361.4723 or paragraph (a) of subsection 1 of NRS 361.4724, as applicable, must be reduced by the same percentage as the taxable value of the real property is reduced for that initial fiscal year as a result of the partial or complete destruction or removal of the improvement to the property or the correction of the overassessment of the improvement to the property.

Source: Section 361.4729 — Calculation of partial abatement when taxable value of real property is reduced because of destruction, removal or overassessment of improvement., https://www.leg.state.nv.us/NRS/NRS-361.html#NRS361Sec4729.

361.471
Definitions. 361.4712
“Ad valorem taxes levied in a county” defined. 361.4715
“Combined overlapping tax rate” defined. 361.4721
“Taxing entity” defined. 361.4722
Partial abatement of taxes levied on property for which assessed valuation has been established or on remainder parcel of real property. 361.4723
Partial abatement of taxes levied on certain single-family residences. 361.4724
Partial abatement of taxes levied on certain residential rental dwellings. 361.4725
Exemption from partial abatements following certain fluctuations in taxable value of property. 361.4726
Exemption from partial abatements for certain new taxes and increases in existing taxes. 361.4727
Increase in rate of tax for payment of obligations secured by proceeds of tax: Prerequisites 361.4728
Levy of tax upon approval of voters at rate that is exempt from partial abatements. 361.4729
Calculation of partial abatement when taxable value of real property is reduced because of destruction, removal or overassessment of improvement. 361.4732
Effect of annexation of real property to taxing entity. 361.4733
Adoption of regulations by Committee on Local Government Finance. 361.4734
Review of determination of applicability of partial abatement 361.4735
Penalty for false claim of partial abatement. 361.47111
“Ad valorem taxes” defined. 361.47285
Calculation of partial abatement when single-family residence is replaced after partial or complete destruction in certain emergencies or disasters.

Last Updated

Feb. 5, 2021

§ 361.4729’s source at nv.us

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Location: https://nevada.public.law/statutes/nrs_361.4729

Original Source: Section 361.4729 — Calculation of partial abatement when taxable value of real property is reduced because of destruction, removal or overassessment of improvement., https://www.leg.state.nv.us/NRS/NRS-361.html#NRS361Sec4729 (last accessed Feb. 5, 2021).