AB377

Existing law establishes partial abatements of property taxes 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 requires 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 the primary residence of the owner to claim the partial abatement of property taxes on the single-family residence by submitting 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 evidenci