NAC361A.390. Golf course land: Determination of taxable value for open-space use.

A county assessor shall:

     1. Determine the value of the golf course land in the same manner as the county assessor would determine the taxable value of the land for purposes other than open-space use;

     2. Multiply the amount of acreage of the golf course land by the product obtained by multiplying $2,860 by 1 plus the percentage change in the Consumer Price Index (All Items) for July 1 immediately preceding the date of valuation as compared to July 1, 2004; and

     3. If the value calculated pursuant to subsection 1 is:

     (a) Greater than or equal to the value calculated pursuant to subsection 2, use the value calculated pursuant to subsection 2 as the taxable value for open-space use of the golf course land; or

     (b) Less than the value calculated pursuant to subsection 2, use the product obtained by multiplying the value calculated pursuant to subsection 1 by an open-space discount factor of 0.74 as the taxable value for open-space use of the golf course land.

     (Added to NAC by Tax Comm’n by R010-07, eff. 10-31-2007)