Nevada SB430 revises tax provisions for certain single-family residences, including exemptions and abatements.
Nevada SB430 revises tax provisions for certain single-family residences. It exempts initial transfers of residences from real property transfer tax and allows exemptions from property taxes for initial owners. The bill authorizes the issuance of transferable tax credits and partial abatements of employer excise taxes and local sales and use taxes for projects constructing at least 100 residences for low-income households. It prohibits selling these residences to certain corporate entities.
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