Section 361.1285 - Common-interest communities1. 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 to 361.1315, inclusive.2. When determining the taxable value of a community unit, a county assessor must, in addition to any other adjustments, adjust the sales prices of, or the base lot or comparative unit values derived from, properties which are comparable to the community unit as necessary, based upon verifiable market data, to reflect the unique physical characteristics of the common-interest community and the characteristics of ownership of the community unit, including, without limitation: (a) The relative location of the community unit within the common-interest community, including, without limitation, the floor level;(b) The phase of development of the common-interest community within which the community unit is located; and(c) The nature of and access to the common elements of the common-interest community, including, without limitation, any parking facilities and open-space areas.3. As used in this section, the words and terms defined in NRS 361.233 have the meanings ascribed to them in that section.Nev. Admin. Code § 361.1285
Added to NAC by Tax Comm'n by R039-10, 8-13-2010, eff. 7-1-2012NRS 360.090, 360.250, 361.227, 361.233