NRS 361A.225
Determination of value for open-space use of real property used as golf course.
1.
For the purposes of NRS 361A.220, the value for open-space use of real property used as a golf course in a fiscal year is equal to the sum of:(a)
The value of the land; and(b)
The value of the improvements made to the real property before that fiscal year as adjusted for obsolescence,2.
The Nevada Tax Commission shall establish a manual for determining the value for open-space use of real property used as a golf course. The manual must:(a)
Require the use of such standards and modifiers, as published or furnished by the Marshall and Swift Publication Company, as the Nevada Tax Commission determines to be applicable.(b)
For the purpose of determining the value of the land, define various classifications of golf courses and provide for the valuation of each such classification in a manner that is consistent with the provisions of NRS 361.227, except that the value of the land must not be determined to exceed the product of $2,860 per acre multiplied by 1 plus the percentage change in the Consumer Price Index (All Items) for July 1 of the current year as compared to July 1, 2004.(c)
For the purpose of determining the value of the improvements made to the real property, require the use of such factors as the Nevada Tax Commission determines to be appropriate. Those factors must include, for the purpose of determining obsolescence, a factor for golf courses that are not used on a consistently frequent basis each month of the year, which is based upon the actual number of rounds of golf played on the golf course in relation to the number of rounds that could have been played under optimum conditions.
Source:
Section 361A.225 — Determination of value for open-space use of real property used as golf course., https://www.leg.state.nv.us/NRS/NRS-361A.html#NRS361ASec225.