NAC361.469. Formula for assessment.

     1. All allocable flight equipment may be valued in accordance with the Personal Property Manual published by the Department and approved by the Commission pursuant to NAC 361.1365 for each fiscal year or in accordance with other books or manuals that provide guidance in establishing value approved by the Executive Director.

     2. A portion of the value of the flight equipment will be allocated to Nevada based on an average of the data described in subsection 3 or described in NAC 361.464 when the information is available and considered applicable.

     3. The weighted ground-time ratio, as indicated by flight schedules, plane hours, originating and terminating tonnage and revenue ton miles flown in Nevada, as a percentage of the system, will be used as the statistic for allocating value to Nevada.

     [Tax Comm’n, Property Tax Reg. Part No. 15N, eff. 10-30-79]—(NAC A 10-10-83; R026-99, 1-27-2000; R034-03, 12-4-2003)