Nevada Tax Commission Proposes Amendments to Property Value Declaration Rules

The Nevada Tax Commission proposed amendments to NAC 375.180 regarding requirements for declaring the value of transferred real property. The proposed regulation updates procedures for recording property deeds by allowing electronic signatures in compliance with Nevada’s electronic transaction laws, establishes requirements for declaration of value forms including grantor and grantee information and property use descriptions, and creates procedures for claiming refunds of tax overpayments with specific timeframes of six months for unaudited claims and three years for audited claims after the recording date. The regulation also addresses partial abatement claims for property taxes and sets standards for incomplete forms. [Nev. ...