The method of property valuation in Nevada is different than that used in any other state. Rather than assessing property on the basis of market value, Nevada’s property tax system uses market value for land but values most improvements to real property based on replacement cost minus depreciation as set by state law (American Bar Association 2016). This concept is known as taxable value. Download the full report by the Lincoln Institute to learn more.
Latest posts by Robert Stiles (see all)
- Guidance for Landlords under Directive 025 – FAQs - June 26, 2020
- Seven Changes of the Paycheck Protection Program Flexibility Act of 2020 - June 4, 2020
- Can I Buy or Sell a House During the Coronavirus Pandemic? - May 7, 2020