Forest Incentive Programs - Property Taxes for Nevada

Type of Tax

Current Use Value tax based on agricultural productivity, currently 35% of the value

Law

NRS 361A.010-361A.160

Objective

1. It is the intent of the legislature to: (a) Constitute agriculture and open-space real property as a separate class for taxation purposes; and (b) Provide a separate plan for: (1) Appraisal and valuation of such property for assessment purposes; and (2) Partial deferred taxation with tax recapture as provided in NRS 361A.280 and NRS 361A.283. 2. The legislature hereby declares that it is in the best interest of the state to maintain, preserve, conserve and otherwise continue in existence adequate agricultural and open-space lands and the vegetation thereon to assure continued public health and the use and enjoyment of natural resources and scenic beauty for the economic and social well-being of the state and its citizens

Requirements

Minimum of 7 acres

Must be evidence of use for past 3 years

Change in use results in penalty of 20% of deferred tax

Must apply with county if greater than ten acres and apply with state if less than ten acres.

Program Administration

State Department of Revenue considers the use of the property by the owner and the County Tax Assessor approves applications for agricultural use