Property Tax Alert: Nevada

January 2008

Regulations governing the assessment of Nevada property tax on golf courses and the calculation of net proceeds of geothermal mine operations that were previously adopted on a temporary basis have been adopted permanently. The regulation governing the assessment of golf courses establishes a methodology for determining the value for open-space use of real property that is used as a golf course and for calculating the deferred tax due on such property after its conversion to a higher use. Additionally, the requirements for calculating the net proceeds and gross yield of a geothermal resource are set forth, and the Department of Taxation is required to consider certain costs, depreciation, and allowances in assessing and taxing the net proceeds of a geothermal resource.

Please contact Rash & Associates for more information.