NAC361.1095. “Base lot method” defined.

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“Base lot method” means a method of appraising land pursuant to which:

1. The parcel or other area of land being appraised is compared to a base lot consisting of a parcel or hypothetical area of land having common or typical characteristics and a known value; and

2. Any differences between the parcel or other area of land being appraised and the base lot with respect to location, size, shape, topography and similar factors are analyzed by the appraiser,

Ê to estimate the value of the land being appraised.

(Added to NAC by Tax Comm’n by R166-07, eff. 6-17-2008)

                    
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