NAC361.760. Entity-adjusted parcel tax rate: Calculation and use.

     1. For the purpose of calculating any amount required to be deducted pursuant to subsection 4 of NRS 361.4722, subsection 3 of NRS 361.4723 or subsection 3 of NRS 361.4724 for a fiscal year from the amount any taxing entity would otherwise be entitled to receive from the ad valorem taxation of a parcel or other taxable unit of property, the entity-adjusted parcel tax rate of each taxing entity must be used to determine:

     (a) The rate of ad valorem taxes levied in the county on that property by or on behalf of each taxing entity for that fiscal year; and

     (b) The combined rate of all ad valorem taxes levied in the county on that property by or on behalf of all taxing entities for that fiscal year.

     2. For the purposes of this section, the “entity-adjusted parcel tax rate” of a taxing entity means the rate of ad valorem taxes imposed by or on behalf of that taxing entity upon a parcel or other taxable unit of property for a fiscal year, as calculated by:

     (a) Multiplying the actual rate of ad valorem taxes levied by or on behalf of that taxing entity for that fiscal year by the assessed value of that property for that fiscal year;

     (b) Subtracting from the amount determined pursuant to paragraph (a) any amount deducted for that fiscal year pursuant to paragraph (c) of subsection 1 of NAC 361.781 from the amount that taxing entity would otherwise be entitled to receive from the ad valorem taxation of that property; and

     (c) Dividing the amount determined pursuant to paragraph (b) by the assessed value of that property for that fiscal year to determine that entity-adjusted parcel tax rate.

     (Added to NAC by Com. on Local Gov’t Finance by R044-06, eff. 5-4-2006; A by R023-08, 4-17-2008)—(Substituted in revision for NAC 361.611)