NAC361.936. Payment in annual installments: Installment agreement.

If a titleholder chooses to pay in annual installments:

     1. The titleholder must enter into an installment agreement with the State of Nevada.

     2. The installment agreement must contain a provision that the State Treasurer will adjust the final installment payment to reflect any increase or decrease in the assessed valuation of the property since the date of the application in accordance with subsection 8 of NRS 361.900.

     3. The State Treasurer may:

     (a) Calculate varying annual installments so that the final installment payment will not be extraordinarily high.

     (b) Estimate a projected rate of change in the assessed valuation of the property so that each annual installment will include a portion of the change and the final installment will not include the entire amount of the change.

     4. During the period of the installment agreement, the titleholder remains liable for payment of his or her property taxes until the final payment pursuant to the installment agreement has been paid and the titleholder has been issued a certificate.

     5. The titleholder may prepay the annual installments without penalty.

     (Added to NAC by St. Treasurer by R088-01, eff. 10-22-2001)