NRS 353.620 Property subject to agreement exempt from ad valorem property taxation in certain circumstances.
82 words·~1 min read·
/nv/chapter-353-state-financial-administration/353-620A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
NRS 353.620 Property subject to agreement exempt from ad valorem property taxation in certain circumstances. While an agreement entered into pursuant to NRS 353.500 to 353.630 , inclusive, is in effect, the property that is the subject of the agreement is exempt from ad valorem property taxation by this State and its political subdivisions if:
1. An improvement is being constructed on the property pursuant to the agreement; or
2. This State or a state agency is in possession of the property.