Assembly Bill No. 413

Assembly Bill No. 413-Committee on Taxation

April 25, 1997
____________

Referred to Concurrent Committees on Taxation
and Ways and Means

SUMMARY--Revises provisions governing property tax assistance for certain older persons. (BDR 32-1601)

FISCAL NOTE: Effect on Local Government: Yes.

Effect on the State or on Industrial Insurance: Yes.

EXPLANATION - Matter in italics is new; matter in brackets [ ] is material to be omitted.

AN ACT relating to property taxes; increasing the amount of household income allowed for a senior citizen to qualify for a refund of a portion of the property taxes on his primary residence; and providing other matters properly relating thereto.

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

Section 1 NRS 361.833 is hereby amended to read as follows:
361.833 1. A senior citizen whose home is placed upon the secured or unsecured tax roll, who has owned the home and maintained it as his primary residence since July 1 immediately preceding the filing of his claim and whose household income is not more than [$19,100] $21,500 is entitled to a refund of the property tax accrued against his home to the extent determined by the percentage shown opposite his household income range on the schedule below:

PERCENT TAX
Percent of
INCOME RANGE Claimant's
If the Amount of Property Tax
Applicant's Household But Not Accrued Allowable
Income Is Over Over as Assistance Is

$0 - [$8,000] $12,700 90
[8,000 - 12,700 80]
12,700 - 14,800 [50] 80
14,800 - 17,000 [25] 50
17,000 - 19,100 [10] 25
19,100 - 21,500 10

2. The amount of the refund must not exceed the amount of the accrued property tax or $500, whichever is less.
Sec. 2. NRS 361.835 is hereby amended to read as follows:
361.835 1. A senior citizen who has rented and maintained his primary residence in a home or on a mobile home lot since July 1 of the preceding calendar year and whose household income is not more than [$19,100] $21,500 is entitled to a refund as determined in accordance with the schedule in NRS 361.833.
2. The amount of the refund provided pursuant to subsection 1 must not exceed an amount equal to that portion of the rent which is rent deemed to constitute accrued property tax, even if the rental property is exempt from property tax.
Sec. 3. This act becomes effective on July 1, 1997.