NAC361.352. “Possessory interest” defined.

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“Possessory interest” means a type of ownership or partial ownership of the total fee. In financial terminology it is the portion of the equity in a business enterprise which is expressed in terms of dollars invested. In valuation it is frequently encountered where government property is rented or leased to a taxable occupant.

[Tax Comm’n, Property Tax Reg. part No. 15, eff. 10-30-79]—(NAC A 9-30-88)

                    
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