Nevada Administrative Code (Last Updated: January 6, 2015) |
Chapter361 Property Tax |
ALLOCATION OF REDUCTIONS IN TAX REVENUE RESULTING FROM CERTAIN PARTIAL ABATEMENTS OF TAXES |
Property Located in Redevelopment Area or Tax Increment Area |
NAC361.795. “Entity parcel tax rate increase” defined.
Latest version.
- “Entity parcel tax rate increase” means:
1. Except as otherwise provided in subsection 2, the remainder obtained by subtracting the entity-adjusted parcel tax rate of a taxing entity applicable to a parcel or other taxable unit of property for the immediately preceding fiscal year from the rate of ad valorem taxes imposed by or on behalf of that taxing entity on that property for the current fiscal year; or
2. If the remainder determined pursuant to subsection 1 is a negative number, zero.
(Added to NAC by Com. on Local Gov’t Finance by R022-08, 4-17-2008, eff. 7-1-2008)