Property Tax Alert: Nevada

October 2004

Nevada property tax regulations governing the taxable valuable of real and personal property have been revised. The revisions include (1) the rate of depreciation that must be used in determining the initial taxable value of an improvement, (2) application of the sales comparison method to value vacant land, (3) adjustments that an assessor may make when using the sales comparison method to value property, (4) methods to value improved land, (5) the valuation of mobile or manufactured homes that have been converted from real property back to personal property, and (6) several new definitions.

Please contact Rash & Associates for more information.