Existing law establishes partial abatements of property taxes for real property that is: (1) a single-family residence which is the primary residence of the owner; or (2) a residential rental dwelling that qualifies based on the amount of rent collected from the tenants. (NRS 361.4723, 361.4724) Existing law requires a person who files with a county recorder a deed evidencing a transfer of title of real property or a land sale installment contract to also provide the county recorder with a declaration of value of the real property made on a form prescribed by the Nevada Tax Commission. The county recorder is prohibited from charging or collecting any fee for recording the form. (NRS 375.060) Section 3 of this bill requires the Nevada Tax Commission to include a section in that form in which a property owner is authorized to claim a partial abatement of property taxes for a single-family residence which is the primary residence of the owner or for a qualified residential rental dwelling. Existing regulations require an owner of a single-family residence which is the primary residence of the owner to claim the partial abatement of property taxes on the single-family residence by submitting a claim for the partial abatement to the county assessor. (NAC 361.606) Section 1 of this bill additionally authorizes such a partial abatement to be claimed on the form for a declaration of value prescribed by the Nevada Tax Commission and provided to the county recorder with a deed evidencing a transfer of title to the single-family residence. Existing regulations require the owner of a residential rental dwelling that qualifies for a certain partial abatement of property taxes based on the amount of rent collected from the tenants of the property to claim the partial abatement by annually filing a claim with the county assessor of the county in which the property is located not later than June 15 of each year. Under existing regulations, the claim must be accompanied by an affidavit concerning the amount of rent charged to the tenants of the property. (NAC 361.607) Section 2 of this bill additionally authorizes a claim for this partial abatement of property taxes to be made on a declaration of value form prescribed by the Nevada Tax Commission and provided to the county recorder with a deed evidencing the transfer of title to the property.

Statutes affected:
As Introduced: 375.060
Reprint 1: 361.4723, 361.4724, 375.060
As Enrolled: 361.4723, 361.4724, 375.060
BDR: 375.060