Read the full stored bill text
- 83rd Session (2025)
Assembly Bill No. 377–Assemblymembers Gallant, Gurr, D’Silva,
Gray; Cole, DeLong, Hibbetts, Koenig and O’Neill
Joint Sponsors: Senators Buck; Doñate, Ellison and Stone
CHAPTER..........
AN ACT relating to real property; requiring the Nevada Tax
Commission to include in the form prescribed for the
declaration of value of real property a section in which a
property owner is authorized to claim certain partial
abatements o f property taxes; prescribing the manner in
which a property ow ner is required to claim such partial
abatements; and providing other matters properly relating
thereto.
Legislative Counsel’s Digest:
Existing law establishes partial abatements of property t axes for real property
that is: (1) a single-family residence which is the primary residence of the owner; or
(2) a residential rental dwelling that qualifies based on the amount of rent collected
from the tenants. (NRS 361.4723, 361.4724) Existing law req uires a person who
files with a county recorder a deed evidencing a transfer of title of real property or a
land sale installment contract to also provide the county recorder with a declaration
of value of the real property made on a form prescribed by the Nevada Tax
Commission. The county recorder is prohibited from charging or collecting any fee
for recording the form. (NRS 375.060) Section 3 of this bill requires the Nevada
Tax Commission to include a section in that form in which a property owner is
authorized to claim a partial abatement of property taxes for a single -family
residence which is the primary residence of the owner or for a qualified residential
rental dwelling.
Existing regulations require an owner of a single -family residence which is th e
primary residence of the owner to claim the partial abatement of property taxes on
the single-family residence by submitt ing a claim for the partial abatement to the
county assessor. (NAC 361.606) Section 1 of this bill additionally authorizes such
a partial abatement to be claimed on the form for a declaration of value prescribed
by the Nevada Tax Commission and provided to the county recorder with a deed
evidencing a transfer of title to the single-family residence.
Existing regulations require the owner of a residential rental dwelling that
qualifies for a certain partial abatement of property taxes based on the amount of
rent collected from the tenants of the property to claim the partial abatement by
annually filing a claim with the county assessor of the county in which the property
is located not later than June 15 of each year. Under existing regulations , the claim
must be accompanied by an affidavit concerning the amount of rent charged to the
tenants of the pro perty. (NAC 361.607) Section 2 of this bill additionally
authorizes a claim for this partial abatement of property taxes to be made on a
declaration of value form prescribed by the Nevada Tax Commission and provided
to the county recorder with a deed evidencing the transfer of title to the property.
– 2 –
- 83rd Session (2025)
EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN
SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
Section 1. NRS 361.4723 is hereby amended to read as
follows:
361.4723 The Legislature hereby finds and declares that an
increase in the tax bill of the owner of a home by more than 3
percent over the tax bill of that homeowner for the previous year
constitutes a severe economic hardship within the meaning of
subsection 10 of Section 1 of Ar ticle 10 of the Nevada Constitution.
The Legislature therefore directs a partial abatement of taxes for
such homeowners as follows:
1. Except as otherwise provided in or required to carry out the
provisions of subsection 2 and NRS 361.4725 to 361.4729,
inclusive, the owner of a single -family residence which is the
primary residence of the owner is entitled to a partial abatement of
the ad valorem taxes levied in a county on that property each fiscal
year equal to the amount by which the product of the com bined rate
of all ad valorem taxes levied in that county on the property for that
fiscal year and the amount of the assessed valuation of the property
which is taxable in that county for that fiscal year, excluding any
increase in the assessed valuation of the property from the
immediately preceding fiscal year as a result of any improvement to
or change in the actual or authorized use of the property, exceeds the
sum obtained by adding:
(a) The amount of all the ad valorem taxes:
(1) Levied in that county on the property for the immediately
preceding fiscal year; or
(2) Which would have been levied in that county on the
property for the immediately preceding fiscal year if not for any
exemptions from taxation that applied to the property for that prior
fiscal year but do not apply to the property for the current fiscal
year,
whichever is greater; and
(b) Three percent of the amount determined pursuant to
paragraph (a).
2. The provisions of subsection 1 do not apply to any property
for which:
(a) No assessed valuation was separately established for the
immediately preceding fiscal year; or
– 3 –
- 83rd Session (2025)
(b) The provisions of subsection 1 of NRS 361.4722 provide a
greater abatement from taxation.
3. Except as otherwise required to carry out the provisions of
NRS 361.4732 and any regulations adopted pursuant to NRS
361.4733, the amount of any reduction in the ad valorem taxes
levied in a county for a fiscal year as a result of the application of
the provisions of subsection 1 must be deducted from the amount of
ad valorem taxes each taxing entity would otherwise be entitled to
receive for that fiscal year in the same proportion as the rate of ad
valorem taxes levied in the county on the property by or on behalf of
that taxing entity for that fiscal year bears to the combined rate of all
ad valorem taxes levied in the county on the property by or on
behalf of all taxing entities for that fiscal year.
4. The Nevada Tax Commission shall adopt such regulations as
it deems appropriate to carry out this section, including, without
limitation, regulations providing a methodology for applying the
partial abatement provided pursuant to subsection 1 to a parcel of
real property of which only a portion qualifies as a single -family
residence which is the primary residen ce of the owner and the
remainder is used in another manner.
5. The owner of a single -family residence does not become
ineligible for the partial abatement provided pursuant to subsection
1 as a result of:
(a) The operation of a home business out of a p ortion of that
single-family residence; or
(b) The manner in which title is held by the owner if the owner
occupies the residence, including, without limitation, if the owner
has placed the title in a trust for purposes of estate planning.
6. A claim for a partial abatement of property taxes pursuant
to this section must be submitted:
(a) On a form provided by the county assessor of the county in
which the property is located in accordance with regulations
adopted by the Nevada Tax Commission; or
(b) If a partial abatement of property taxes pursuant to this
section is claimed on the form for a declaration of value
prescribed by the Nevada Tax Commission pursuant to NRS
375.060, on the form prescribed by the Nevada Tax Commission
pursuant to NRS 375.060.
7. For the purposes of this section:
(a) “Primary residence of the owner” means a residence which:
(1) Is designated by the owner as the primary residence of
the owner in this State, exclusive of any other residence of the
owner in this State; and
– 4 –
- 83rd Session (2025)
(2) Is not rented, leased or otherwise made available for
exclusive occupancy by any person other than the owner of the
residence and members of the family of the owner of the residence.
(b) “Single-family residence” means a parcel or other unit of
real p roperty or unit of personal property which is i ntended or
designed to be occupied by one family with facilities for living,
sleeping, cooking and eating.
(c) “Unit of personal property” includes, without limitation, any:
(1) Mobile or manufactured home, whether or not the owner
thereof also owns the real property upon which it is located; or
(2) Taxable unit of a condominium, common -interest
community, planned unit development or similar property,
if classified as personal property for the purposes of this chapter.
(d) “Unit of real property” includes, without limitation, any
taxable unit of a condominium, common -interest community,
planned unit development or similar property, if classified as real
property for the purposes of this chapter.
Sec. 2. NRS 361.4724 is hereby amended to read as follows:
361.4724 The Legislature hereby finds and declares that many
Nevadans who cannot afford to own their own homes would be
adversely affected by large unanticipated increases in property
taxes, as those t ax increases are passed down to renters in the form
of rent increases and therefore the benefits of a charitable exemption
pursuant to subsection 8 of Section 1 of Article 10 of the Nevada
Constitution should be afforded to those Nevadans through an
abatement granted to the owners of residential rental dwellings who
charge rent that does not exceed affordable housing standards for
low-income housing. The Legislature therefore directs a partial
abatement of taxes for such owners as follows:
1. Except as otherwise provided in or required to carry out the
provisions of subsection 2 and NRS 361.4725 to 361.4729,
inclusive, if the amount of rent collected from each of the tenants of
a residential dwelling does not exceed the fair market rent for the
county in w hich the dwelling is located, as most recently published
by the United States Department of Housing and Urban
Development, the owner of the dwelling is entitled to a partial
abatement of the ad valorem taxes levied in a county on that
property for each fis cal year equal to the amount by which the
product of the combined rate of all ad valorem taxes levied in that
county on the property for that fiscal year and the amount of the
assessed valuation of the property which is taxable in that county for
that fiscal year, excluding any increase in the assessed valuation of
the property from the immediately preceding fiscal year as a result
– 5 –
- 83rd Session (2025)
of any improvement to or change in the actual or authorized use of
the property, exceeds the sum obtained by adding:
(a) The amount of all the ad valorem taxes:
(1) Levied in that county on the property for the immediately
preceding fiscal year; or
(2) Which would have been levied in that county on the
property for the immediately preceding fiscal year if not for any
exemptions from taxation that applied to the property for that prior
fiscal year but do not apply to the property for the current fiscal
year,
whichever is greater; and
(b) Three percent of the amount determined pursuant to
paragraph (a).
2. The provisions of subsection 1 do not apply to:
(a) Any hotels, motels or other forms of transient lodging;
(b) Any property for which no assessed valuation was separately
established for the immediately preceding fiscal year; and
(c) Any property for which the provisions of subsection 1 of
NRS 361.4722 provide a greater abatement from taxation.
3. Except as otherwise required to carry out the provisions of
NRS 361.4732 and any regulations adopted pursuant to NRS
361.4733, the amount of any reduction in the ad valorem taxes
levied in a county for a fiscal year as a result of the application of
the provisions of subsection 1 must be deducted from the amount of
ad valorem taxes each taxing entity would otherwise be entitled to
receive for that fiscal year in the s ame proportion as the rate of ad
valorem taxes levied in the county on the property by or on behalf of
that taxing entity for that fiscal year bears to the combined rate of all
ad valorem taxes levied in the county on the property by or on
behalf of all taxing entities for that fiscal year.
4. A claim for a partial abatement of property taxes pursuant
to this section must be submitted:
(a) In the manner prescribed by regulations adopted by the
Nevada Tax Commission; or
(b) If a partial abatement of property taxes pursuant to this
section is claimed on the form for a declaration of value
prescribed by the Nevada Tax Commission pursuant to
NRS 375.060, on the form prescribed by the Nevada Tax
Commission pursuant to NRS 375.060.
5. The Nevada Tax Commission shall adopt such regulations as
it deems appropriate to carry out this section.
– 6 –
- 83rd Session (2025)
Sec. 3. NRS 375.060 is hereby amended to read as follows:
375.060 1. Each deed evidencing a transfer of title of real
property or lan d sale installment contract that is presented for
recordation to the county recorder must be accompanied by a
declaration of value made on a form prescribed by the Nevada Tax
Commission.
2. The Nevada Tax Commission shall include in the form
prescribed p ursuant to subsection 1 a section in which the
property owner may claim a partial abatement from taxation
provided pursuant to NRS 361.4723 or 361.4724.
3. A county recorder shall not charge or collect any fees for
recording the declaration of value required pursuant to this section.
Sec. 4. 1. This section becomes effective upon passage and
approval.
2. Sections 1, 2 and 3 of this act become effective:
(a) Upon passage and approval for the purpose of adopting any
regulations and performing any other preparatory administrative
tasks that are necessary to carry out the provisions of this act; and
(b) On October 1, 2025, for all other purposes.
20 ~~~~~ 25