ValuationNevada_property_tax_assessment_and_ratesEASY
Maria owns a single-family home in Clark County, Nevada. The county assessor has determined that her home has a taxable value of $400,000. At what percentage of taxable value will the assessor calculate Maria's assessed value for property tax purposes?
Correct Answer
B) 35% of taxable value
Under NRS 361.227, Nevada assesses real property at 35% of its taxable value (which the assessor determines based on replacement cost less depreciation for improvements, plus land value). This 35% assessment ratio is a fundamental and Nevada-specific rule that directly determines the tax base before the levy rate is applied.
Answer Options
A
25% of taxable valueB
35% of taxable valueC
50% of taxable valueD
100% of taxable valueWhy This Is the Correct Answer
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Related Topics & Key Terms
Key Terms:
assessment_ratiotaxable_valueassessed_valuenrs_361clark_county
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