Nevada Administrative Code

NAC 361.128 Improvement: Calculation of cost of replacement. (NRS 360.090, 360.250, 361.227, 361.229) 1. The cost of replacement of an improvement must be calculated: (a) Without including any costs attributable to land enhancements; and (b) Except as otherwise provided in subsec…

NAC 361.1285 Common-interest communities. (NRS 360.090, 360.250, 361.227, 361.233) 1. A county assessor shall determine the taxable value of any land and improvements which comprise the community units and common elements of a common-interest community as provided in NAC 361.106 …

NAC 361.129 Appraisal of parcel as part of qualified subdivision. (NRS 360.090, 360.250, 361.227) 1. A parcel must be appraised as provided by paragraph (b) of subsection 2 of NRS 361.227 and NAC 361.1295 if: (a) It is one of a group of 10 or more contiguous parcels held under co…

NAC 361.1295 Taxable value of land within qualified subdivision. (NRS 360.090, 360.250, 361.227) 1. In determining the taxable value of land within a qualified subdivision, the county assessor shall use, as he or she deems appropriate based upon the available information concerni…

NAC 361.130 Mobile or manufactured home. (NRS 360.090, 360.250, 361.227, 361.2445, 361.325) 1. The taxable value of a mobile home or manufactured home which constitutes real property is the cost of replacement of the mobile home or manufactured home less depreciation and obsolesc…

NAC 361.1305 Billboards. (NRS 360.090, 360.250, 361.227) 1. The taxable value of a billboard is the cost of replacement of the billboard less depreciation and obsolescence. 2. The cost of replacement of a billboard must be computed by multiplying the cost of acquisition to the cu…

NAC 361.131 Taxable value exceeding full cash value. (NRS 360.090, 360.250, 361.227) If the initially determined taxable value for any real property is found to exceed the full cash value of the property, the person determining taxable value shall examine the taxable value determ…

NAC 361.1315 Adjustment in apportionment for school district. (NRS 360.090, 360.250, 387.1243) 1. To determine if a school district is eligible to receive an adjustment in apportionment pursuant to subsection 2 of NRS 387.1243, each county assessor shall, on or before March 15 of…

NAC 361.133 Definitions. (NRS 360.090, 360.250, 361.233) As used in NAC 361.133 to 361.1336, inclusive, unless the context otherwise requires, the words and terms defined in NRS 361.233 have the meanings ascribed to them in that section. (Added to NAC by Tax Comm’n by R183-07, ef…

NAC 361.1332 Applicability. (NRS 360.090, 360.250, 361.233) The provisions of NAC 361.133 to 361.1336, inclusive, apply to the assessment and valuation of the real property within a common-interest community. (Added to NAC by Tax Comm’n by R183-07, eff. 8-26-2008)

NAC 361.1334 Valuation of and assessment of tax on community units and common elements. (NRS 360.090, 360.250, 361.233) 1. A county assessor shall: (a) Determine the taxable value of each community unit of a common-interest community separately and assess the tax thereon to the c…

NAC 361.1336 Allocation of taxable value of common elements to community units. (NRS 360.090, 360.250, 361.233) 1. Except as otherwise provided in subsection 3 of NAC 361.1334, a county assessor shall include in the valuation of each community unit of a common interest community …

NAC 361.1345 Definitions. (NRS 360.090, 360.250, 361.227) As used in NAC 361.1345 to 361.139, inclusive, unless the context otherwise requires, the words and terms defined in NAC 361.1351, 361.1355 and 361.1361 have the meanings ascribed to them in those sections. (Added to NAC b…

NAC 361.1351 “Acquisition cost” and “original cost” defined. (NRS 360.090, 360.250, 361.227) “Acquisition cost” or “original cost” means the actual cost of property to its present owner, including, without limitation, the costs of transportation and the costs of installation. (Ad…

NAC 361.1355 “Costs of installation” defined. (NRS 360.090, 360.250, 361.227) “Costs of installation” means the costs of direct labor, direct overhead and the capitalized expense of interest or imputed charges for interest which are necessary to make the property operational. (Ad…

NAC 361.1361 “Personal Property Manual” defined. (NRS 360.090, 360.250, 361.227) “Personal Property Manual” means a manual for the valuation of personal property that is published by the Department annually pursuant to NAC 361.1365. (Added to NAC by Tax Comm’n by R034-03, eff. 12…

NAC 361.1365 Personal Property Manual: Publication; contents; approval; use. (NRS 360.090, 360.250, 361.227) 1. The Department will annually publish a Personal Property Manual which describes the methods and standards that must be used for the valuation of personal property. The …

NAC 361.1371 Procedure for determination of taxable value. (NRS 360.090, 360.250, 361.227) 1. The taxable value of personal property must be determined by adjusting the acquisition cost of the property by a cost-index factor and reducing the adjusted acquisition cost by an estima…

NAC 361.1375 Determination of expected life, cost-index factors and depreciation. (NRS 360.090, 360.250, 361.227) 1. Personal property must be categorized by the specific type of property that it is or by the type of industry in which it is used. Each category must be assigned to…

NAC 361.138 Reported acquisition cost for leased equipment. (NRS 360.090, 360.250, 361.227) For leased equipment, the reported acquisition cost is the cost which the user of the property would incur if the equipment were purchased, less any discount customarily allowed by a selle…

NAC 361.139 Personal property acquired with real property for lump sum; use of other valuation techniques. (NRS 360.090, 360.250, 361.227) 1. In determining the taxable value of personal property which was acquired with real property for a lump sum, the assessor may refer to appr…

NAC 361.1401 Definitions. (NRS 360.090, 360.250, 361.260) As used in NAC 361.1401 to 361.1438, inclusive, unless the context otherwise requires, the words and terms defined in NAC 361.1402 to 361.1411, inclusive, have the meanings ascribed to them in those sections. (Added to NAC…

NAC 361.1402 “Aircraft” defined. (NRS 360.090, 360.250, 361.260) 1. “Aircraft” means any contrivance used or designed for the navigation of or for flight in the air. 2. The term includes, without limitation: (a) General aircraft; (b) Commercial aircraft; (c) Unmanned aircraft sys…

NAC 361.1403 “Commercial aircraft” defined. (NRS 360.090, 360.250, 361.260) “Commercial aircraft” means a civilian aircraft operated for compensation or hire and used to transport persons or property including, without limitation, an aircraft used in an on-demand operation, sched…

NAC 361.1404 “Domicile” defined. (NRS 360.090, 360.250, 361.260) “Domicile” means: 1. The permanent, principal home to which a person returns or intends to return after an absence; or 2. The place where a business has its headquarters or principal place of business. (Added to NAC…

NAC 361.1405 “General aircraft” defined. (NRS 360.090, 360.250, 361.260) “General aircraft” means civilian aircraft that is: 1. Registered with, and has an airworthiness certificate issued by, the Federal Aviation Administration; and 2. Operated for a purpose other than the comme…

NAC 361.1406 “Kit aircraft” defined. (NRS 360.090, 360.250, 361.260) “Kit aircraft” means an aircraft: 1. Assembled by a person from a kit that is manufactured by a person who holds a production certification issued by the Federal Aviation Administration; and 2. Issued a special …

NAC 361.1407 “Light-sport aircraft” defined. (NRS 360.090, 360.250, 361.260) “Light-sport aircraft” has the meaning ascribed to it in 14 C.F.R. § 1.1. (Added to NAC by Tax Comm’n by R001-20, eff. 1-21-2021)

NAC 361.1408 “Small unmanned aircraft” defined. (NRS 360.090, 360.250, 361.260) “Small unmanned aircraft” means an unmanned aircraft weighing less than 55 pounds on takeoff, including all items on board or otherwise attached to the aircraft. (Added to NAC by Tax Comm’n by R001-20…

NAC 361.1409 “Taxable situs” defined. (NRS 360.090, 360.250, 361.260) “Taxable situs” means contacts sufficient to confer on this State the power to tax an aircraft under the United States Constitution. (Added to NAC by Tax Comm’n by R001-20, eff. 1-21-2021)

NAC 361.1411 “Unmanned aircraft system” defined. (NRS 360.090, 360.250, 361.260) “Unmanned aircraft system” means an unmanned aircraft and its associated elements, including, without limitation, communication links and the components that control the unmanned aircraft, that are r…

NAC 361.1421 Applicability. (NRS 360.090, 360.250, 361.260) 1. Except as otherwise provided in subsection 2, the provisions of NAC 361.1401 to 361.1438, inclusive, do not apply to property of an interstate or intercounty nature used directly in the operation of a scheduled or uns…

NAC 361.1424 Exemption for aircraft qualifying as business inventory. (NRS 360.090, 360.250, 361.068) 1. A person claiming that an aircraft is personal property held for sale by a merchant or manufacturer and is exempt from taxation pursuant to paragraph (a) or (b) of subsection …

NAC 361.1426 Contents of written statement to county assessor to determine taxable value. (NRS 360.090, 360.250, 361.265) The written statement required by NRS 361.265 for an aircraft must include information concerning the aircraft that is sufficient to enable the county assesso…

NAC 361.1428 Determination whether aircraft has taxable situs in this State. (NRS 360.090, 360.250, 361.260) 1. Except as otherwise provided in NAC 361.143 and 361.1432, an aircraft has taxable situs in this State if the aircraft has a physical presence in this State that is of a…

NAC 361.143 Certain aircraft owned by certain servicemembers or spouses do not acquire taxable situs in this State. (NRS 360.090, 360.250, 361.260) 1. Notwithstanding the provisions of NAC 361.1428, an aircraft owned by a servicemember who is stationed in this State in compliance…

NAC 361.1432 Certain aircraft owned by certain foreign air carriers do not acquire taxable situs in this State. (NRS 360.090, 360.250, 361.260) 1. Notwithstanding the provisions of NAC 361.1428, an aircraft that is owned by a foreign air carrier, based and registered outside of t…

NAC 361.1434 Claim by owner that taxable value of aircraft is subject to allocation if aircraft has taxable situs in this State and another state or country. (NRS 360.090, 360.250, 361.260) 1. The owner of an aircraft with taxable situs in this State may claim that the taxable va…

NAC 361.1436 Assessment of aircraft with taxable situs in this State; formula for allocating if aircraft has taxable situs in this State and another state or country. (NRS 360.090, 360.250, 361.260) 1. If an aircraft has taxable situs in this State, the aircraft must be assessed …

NAC 361.1437 Period for which aircraft must be included on assessment roll of county. (NRS 360.090, 360.250, 360.260) An aircraft that has taxable situs in this State and is included on the assessment roll of a county in this State for a fiscal year must be included on the assess…

NAC 361.1438 Certain exclusions from partial abatement of property taxes. (NRS 360.090, 360.250, 361.4722) For the purposes of carrying out the provisions of NRS 361.4722, any increase in the assessed valuation of an aircraft from the immediately preceding year as a result of an …

NAC 361.144 Areas of appraisal for cycle of reappraisal. (NRS 360.090, 360.250, 361.260) 1. Each county assessor shall: (a) Establish geographic boundaries for areas of appraisal or establish areas by other classifications within which all property must be reappraised at the same…

NAC 361.146 Records of reappraisals. (NRS 360.090, 360.250, 361.260) Whenever property is reappraised, the county assessor shall indicate all the data necessary to determine the taxable value of the property, the date of the field inspection, if any, and the identity of the appra…

NAC 361.150 Report of appraisals by county assessor. (NRS 360.090, 360.250, 361.260) Each county assessor shall file with the Department on or before April 1 of each year a report which includes: 1. A statement of the appraisals accomplished in the previous year beginning January…

NAC 361.151 Statement of valuation of property sold. (NRS 360.090, 360.250, 361.260) On or before April 1 of each year, each county assessor shall furnish to the Department a statement of the valuation of real property which was sold in his or her county in the preceding calendar…

NAC 361.152 Assessment lists: Contents; distribution. (NRS 360.090, 360.250, 361.300) 1. The assessment list for a county must include: (a) The parcel number of each property; (b) The name of the owner of each property; (c) The year of the last reappraisal of each property at whi…

NAC 361.154 Assessment roll filed with Secretary of State Board of Equalization. (NRS 360.090, 360.250, 361.390) 1. The assessment roll filed with the Secretary of the State Board of Equalization must include: (a) The parcel number of each property; (b) The name of the owner of e…