NAC361.1115. “Cost of development method” defined.

Latest version.

“Cost of development method” means a method used to estimate the value of undeveloped land in which direct and indirect costs and entrepreneurial profit are deducted from an estimate of the probable proceeds to be obtained from selling the land as developed parcels and the resulting net income is discounted to a present value at a market-derived rate.

(Added to NAC by Tax Comm’n by R031-03, eff. 8-4-2004)

                    
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