Nevada § 361.767 - Assessment of personal property that was not assessed or was underassessed
Full text of Nevada Nevada Revised Statutes § 361.767 — Assessment of personal property that was not assessed or was underassessed, with citation guidance and answers to common questions.
§ 361.767. Assessment of personal property that was not assessed or was underassessed
1. If the county assessor determines that certain personal property was not assessed,
the assessor may assess the property based upon its taxable value in the year in which
it was not assessed. 2. If the county assessor determines that certain personal property was underassessed
because it was incorrectly reported by the owner, the assessor may assess the property
based upon its taxable value in the year in which it was underassessed. He or she may then send an additional tax bill for an amount which represents the
difference between the reported value and the taxable value for each year. 3. The assessments provided for in subsections 1 and 2 may be made at any time within
3 years after the end of the fiscal year in which the taxes would have been due. The tax bill must specify the fiscal year for which the tax is due and the applicable
rate and whether it is for property which was not assessed or for property which was
underassessed. 4. If property is not assessed or is underassessed because the owner submitted an
incorrect written statement or failed to submit a written statement required pursuant
to subsection 1 of NRS 361.265 , there must be added to the taxes due a penalty in the amount of 20 percent of the
tax for each year the property was not assessed or was underassessed. The county assessor may waive this penalty if he or she finds extenuating circumstances
sufficient to justify the waiver.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 361.767
What does Nevada Revised Statutes § 361.767 cover?
Section 361.767 ("Assessment of personal property that was not assessed or was underassessed") 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 § 361.767?
A common citation format is "Nevada Revised Statutes § 361.767" (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 § 361.767 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.