Nevada AJR1 proposes constitutional amendments to revise property tax provisions for sold or transferred real property and establish a tax refund.
Nevada AJR1 proposes to amend the Nevada Constitution to revise property tax provisions for real property that is sold or transferred. It mandates that for the first fiscal year after such a sale or transfer, the property is ineligible for any adjustment to the value of improvements based on the age of the improvement and certain partial abatements. For subsequent fiscal years, any adjustment to the value of improvements must be determined as if the improvements were new.
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- Core Provisions
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- Legal Framework
- Critical Issues
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