Senate Bill No. 364

Senate Bill No. 364-Senators Rawson, McGinness,

O'Connell and Rhoads

CHAPTER

209

AN ACT relating to taxation; providing criteria for relief from inequitable assessment of property; and providing other matters properly relating thereto.

[Approved June 26, 1997]

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

Section 1. Chapter 361 of NRS is hereby amended by adding thereto a new section to read as follows:
1. An owner of property who believes that his property was assessed at a higher value than another property whose use is identical and whose location is comparable, may appeal the assessment on or before January 15 of the fiscal year in which the assessment was made, to the county board of equalization. If the board finds that an inequity exists in the assessment of the value of the land or the value of the improvements, or both, the board may add to or deduct from the value of the land or the value of the improvements, or both, either of the appellant's property or of the property to which it is compared, to equalize the assessment.
2. In the case of residential property, the appellant shall cite other property within the same subdivision if possible.
Sec. 2. This act becomes effective on July 1, 1997.
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