Nevada § 361.4547 - Nevada Tax Commission to certify combined tax rate to boards of county commissioners; procedure when additional levy of taxes ad valorem approved by voters of school district causes combined rate to exceed statutory limitation

§ 361.4547. Nevada Tax Commission to certify combined tax rate to boards of county commissioners; procedure when additional levy of taxes ad valorem approved by voters of school district causes combined rate to exceed statutory limitation

1. After the approval of the final budgets for the various local governments as defined

in NRS 354.474 and their submission to the Department, for examination and approval, the Nevada

Tax Commission shall certify to the board of county commissioners of each of the several

counties the combined tax rate necessary to produce the amount of revenue required

by the approved budgets, and shall certify that combined rate, to each of the boards

of county commissioners. 2. If the voters of a school district approve an additional levy of taxes ad valorem

pursuant to NRS 387.3285 or 387.3287 or the issuance of bonds or other debt to be repaid by a levy of taxes ad valorem

throughout the district, and the Department finds for any fiscal year that the additional

rate of tax required for this purpose, when added to the rates of taxes ad valorem

authorized to be levied in the district by other local governments and the State for

that fiscal year would cause the combined rate within the territory of any other local

government to exceed the rate allowed by NRS 361.453 , the Department shall determine: (a) The amounts by which the proposed levies for all of the other local governments

whose rates affect the territory have increased from the previous year; and (b) The portion of the amount by which the combined rate would exceed the rate allowed

by NRS 361.453 that is directly attributable to the additional levy approved by the voters for the

school district. 3. If the Department determines that any portion of the amount by which the combined

rate would exceed the rate allowed by NRS 361.453 is directly attributable to the additional levy approved by the voters for the school

district, the school district shall: (a) Reduce for the fiscal year the amount levied pursuant to NRS 387.3285 or 387.3287 , or both, if the proceeds of the levy are not already committed for debt service,

by the amount determined by the Department to be directly attributable to the school

district; (b) Transfer to the other local government whose rate overlaps in that territory an

amount of money, determined by the Department to be directly attributable to the school

district, to reduce the combined rate to the rate allowed; or (c) Determine and implement a combination of the methods of reduction allowed by paragraphs

(a) and (b) that will result in the reduction of the combined rate by the amount determined

by the Department to be directly attributable to the school district. 4. If a school district determines that it will proceed pursuant to paragraph (b)

or (c) of subsection 3, the Department shall calculate the transfers so as to minimize

the total amount transferred, and each local government to which a transfer is made

shall correspondingly reduce its rate and file a revised budget within the time allowed

by subsection 6 of NRS 361.455 . The amounts transferred must be paid in installments, within 30 days after each installment

of property taxes is due.