Nevada § 361.463 - Reduction of tax levy which exceeds statutory limitation; priority of taxes levied for payment of bonded indebtedness
Full text of Nevada Nevada Revised Statutes § 361.463 — Reduction of tax levy which exceeds statutory limitation; priority of taxes levied for payment of bonded indebtedness, with citation guidance and answers to common questions.
§ 361.463. Reduction of tax levy which exceeds statutory limitation; priority of taxes levied for payment of bonded indebtedness
1. In any year in which the total taxes levied by all overlapping units within the
boundaries of the State exceed the limitation imposed by NRS 361.453 , and it becomes necessary for that reason to reduce the levies made by any of those
units, the reduction so made must be in taxes levied by those units (including the
State) for purposes other than the payment of bonded indebtedness, including interest
thereon. 2. The taxes levied for the payment of bonded indebtedness and the interest thereon
enjoy a priority over taxes levied by each such unit (including the State) for all
other purposes where reduction is necessary to comply with the limitation imposed
by NRS 361.453 .
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 361.463
What does Nevada Revised Statutes § 361.463 cover?
Section 361.463 ("Reduction of tax levy which exceeds statutory limitation; priority of taxes levied for payment of bonded indebtedness") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 361.463?
A common citation format is "Nevada Revised Statutes § 361.463" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 361.463 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.