NAC701A.360. Duties of county tax receiver regarding property that includes eligible building or other structure.

     1. Upon receiving a certificate of eligibility for the abatement from the Director, a county tax receiver shall, with regard to the pertinent parcel or other taxable unit of property that includes an eligible building or other structure:

     (a) Obtain from the county assessor or the Department, as applicable, the following information:

          (1) The net taxable value of all the land and of each improvement on the land that comprises the property;

          (2) The abatement percentage certified by the Director for each eligible building or other structure; and

          (3) The percentage of the net taxable value of each eligible building or other structure which is subject to the abatement.

     (b) Calculate the percentage of the total net taxable value of the property attributable to:

          (1) Each eligible building or other structure;

          (2) Each building or other structure which is not eligible for the abatement; and

          (3) The land that comprises the property.

Ê The sum of the percentages determined pursuant to this paragraph must equal 100 percent.

     (c) Calculate the weighted abatement percentage for each eligible building or other structure by:

          (1) Multiplying the percentage of the total net taxable value of the property attributable to the building or other structure, as determined pursuant to subparagraph (1) of paragraph (b), by the abatement percentage certified for the building or other structure by the Director; and

          (2) Multiplying the result determined pursuant to subparagraph (1) by the percentage of the net taxable value of the building or other structure which is subject to the abatement, as indicated pursuant to subparagraph (3) of paragraph (a).

     (d) Calculate the weighted average abatement percentage for the property by adding all the weighted abatement percentages determined for the property pursuant to paragraph (c).

     (e) Calculate the applicable abatement and net tax due for each category of taxing entity listed on the tax bill for the property, other than any category of taxing entity on behalf of which any taxes imposed for public education are being billed, as follows:

          (1) The applicable abatement must be determined by multiplying the weighted average abatement percentage for the property determined pursuant to paragraph (d) by the total amount of tax due to the taxing entity after the application of any partial abatement of taxes required by NRS 361.4722 or 361.4724; and

          (2) The net tax due must be determined by subtracting the applicable abatement determined pursuant to subparagraph (1) from the total amount of tax due to the taxing entity after the application of any partial abatement of taxes required by NRS 361.4722 or 361.4724.

     (f) Calculate:

          (1) The total abatement for the property by adding all the sums determined for the property pursuant to subparagraph (1) of paragraph (e); and

          (2) The total net tax due for the property by adding all the sums determined for the property pursuant to subparagraph (2) of paragraph (e).

     (g) Allocate the total abatement for the property among the eligible buildings and other structures by:

          (1) Dividing the weighted abatement percentage for each eligible building or other structure determined pursuant to paragraph (c) by the weighted average abatement percentage for the property determined pursuant to paragraph (d); and

          (2) Multiplying the result determined pursuant to subparagraph (1) by the total abatement for the property determined pursuant to subparagraph (1) of paragraph (f).

Ê The sum of all the amounts allocated pursuant to this paragraph must equal the total abatement for the property determined pursuant to subparagraph (1) of paragraph (f).

     2. A county tax receiver may use a worksheet provided by the Department to facilitate the calculations required by this section.

     3. For the purposes of this section:

     (a) The abatement applies to:

          (I) Zero percent of the net taxable value of any land; and

          (II) Zero percent of the net taxable value of any building or other structure that is not eligible for the abatement.

     (b) The abatement percentage for any land and for any building or other structure that is not eligible for the abatement is zero percent.

     (c) The weighted abatement percentage for any land and for any building or other structure that is not eligible for the abatement is zero percent.

     (Added to NAC by Tax Comm’n by R003-08, eff. 6-17-2008; A by Office of Energy by R127-13, 6-23-2014)