Existing law provides a partial abatement of the property taxes levied on property for which an assessed valuation has previously been established, a remainder parcel of real property, single-family residences that are the primary residence of the owner and certain residential rental dwellings. These partial abatements have the effect of establishing an annual cap on increases in property taxes. (NRS 361.4722, 361.4723, 361.4724) Under existing law, if the county assessor of a county notifies the county treasurer that a taxpayer is entitled, for the current fiscal year, to the partial abatement for a single-family residence that is the primary residence of the owner, but that the taxpayer failed to claim that partial abatement within the required period for good cause, the county treasurer is authorized, with the concurrence of the county assessor and without the approval of the board of county commissioners, to provide a credit or refund to the taxpayer, as the county treasurer deems appropriate. (NRS 361.4734, 361.733; NAC 361.6055) This bill: (1) expands this provision by authorizing the county treasurer to make such a correction to the tax roll and issue such a credit or refund to a taxpayer if the county assessor notifies the county treasurer that the taxpayer is entitled that partial abatement for the immediately preceding fiscal year; and (2) removes the requirement to establish good cause for such a correction.

Statutes affected:
Reprint 1: 361.4734, 361.773