NAC361.1202. Land: Cost of development method.

Latest version.

When using the cost of development method, a county assessor must:

     1. Perform that method in accordance with the provisions of chapter 7 of Property Appraisal and Assessment Administration, as adopted by reference in NAC 361.1177.

     2. Deduct the following costs from an estimate of the probable proceeds to be obtained from selling the land as developed parcels:

     (a) The direct costs of site preparation;

     (b) The costs for utility hookups;

     (c) Any other direct and indirect costs of development; and

     (d) A reasonable allowance for entrepreneurial profit.

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

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');