Nevada § 361A.277 - Determination of taxable value when property converted to higher use

§ 361A.277. Determination of taxable value when property converted to higher use

When any portion of agricultural or open-space land is converted to a higher use,

the county assessor shall determine its taxable and, as appropriate, agricultural

or open-space use values against which to compute the deferred tax for each fiscal

year the property was under agricultural or open-space assessment during the current

fiscal year and the preceding 6 fiscal years, or such other period as is required

pursuant to NRS 361A.283 . The taxable values for each year must be comparable for the corresponding years

to the taxable values for property similar, including, without limitation, in size,

zoning and location, to the portion of property actually converted to a higher use. When agricultural land is converted to a higher use, the agricultural use values

for each of the years may be based on the agricultural use for the latest year. When open-space land that is used as a golf course is converted to a higher use,

the taxable values for the property must be determined, for the purpose of computing

the deferred tax, in accordance with the provisions of NRS 361.227 based upon the assessment of the land as a golf course.