Nevada Administrative Code (Last Updated: January 6, 2015) |
Chapter361 Property Tax |
ASSESSMENTS BY NEVADA TAX COMMISSION |
General Provisions |
NAC361.336. “Market value” defined.
Latest version.
- “Market value” means the amount in dollars for which a specific item of property could be sold by a willing seller and be bought by a willing buyer, assuming an arm’s length transaction and reasonable exposure to the market.
[Tax Comm’n, Property Tax Reg. part No. 15, eff. 10-30-79]