NAC361.6123. “Revised tax base” defined.

“Revised tax base” means the amount of ad valorem taxes which, after a parcel or other taxable unit of real property is annexed to a taxing entity, would have been levied on the property for the immediately preceding fiscal year if the annexation had occurred 1 year earlier, based upon the tax rates that would have applied to the property for the immediately preceding fiscal year if the annexation had occurred 1 year earlier and without regard to any exemptions from taxation that applied to the property for the immediately preceding fiscal year but do not apply to the property for the current fiscal year.

     (Added to NAC by Com. on Local Gov’t Finance by R043-09, 6-30-2010, eff. 7-1-2010)