NAC361.1125. “Expected absorption period” defined.

Latest version.

“Expected absorption period” means the length of time within which all the parcels in a qualified subdivision may reasonably be expected to be sold, rented or occupied if they are actively marketed. The period begins on July 1 of the year for which the tax on the parcels is levied and ends on the date determined by the county assessor.

(Added to NAC by Tax Comm’n, eff. 11-14-88)

                    
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