NAC361.643. Record to support reduction of assessed valuation.

     1. If a county board of equalization reduces the assessed valuation of any property, the record of the case must contain the reasons for the reduction including, when applicable:

     (a) An incorrect measurement of square footage.

     (b) The reduction of the valuation of that class of property.

     (c) A deduction for depreciation or obsolescence.

     (d) Evidence of comparative sales or fair economic income which proves that the taxable value of the property exceeded its full cash value.

     2. If the State Board of Equalization determines that the record of any case on appeal from a county board of equalization is inadequate, the Board will remand the case to the county board before October 1. If the county board holds a hearing anew on the complaint, it must be held and a decision must be rendered within 30 days after the remand.

     (Added to NAC by St. Bd. of Equalization, eff. 1-6-84)