NAC361.1184. Land: Stratification for purposes of sales comparison approach.

     1. For the purposes of carrying out the provisions of NAC 361.11795 or 361.118, a county assessor:

     (a) Must stratify comparable properties into the primary categories of land use prescribed by the Department pursuant to NAC 361.1178; and

     (b) May also stratify those properties:

          (1) Into any secondary categories of land use prescribed by the Department pursuant to NAC 361.1178; and

          (2) If those properties are used in a similar or competitive manner, into geographic market areas. Geographic market areas must be initially defined by major natural, political or human-constructed boundaries and then further defined by areas of complementary land uses or neighborhoods, in which all the properties are similarly influenced by environmental, governmental, social and economic forces. Additional criteria may be considered for defining a geographic market area, including, without limitation, the size of the parcels or subdivisions of land.

     2. For the purposes of carrying out this section, a county assessor:

     (a) Must determine the number of land use categories and geographic market areas to use in the stratification of comparable properties based upon on the size and diversity of the geographic area being analyzed and the number of sales available within each proposed stratum; and

     (b) May, if a geographic market area crosses county boundaries, cooperate with other county assessors in the exchange of information.

     (Added to NAC by Tax Comm’n by R039-10, 8-13-2010, eff. 7-1-2012)