A.B. 377
- *AB377*
ASSEMBLY BILL NO. 377–ASSEMBLYMEMBERS GALLANT, GURR,
D’SILVA, GRAY; COLE, DELONG, HIBBETTS, KOENIG AND
O’NEILL
MARCH 10, 2025
____________
JOINT SPONSORS: SENATORS BUCK; DOÑATE, ELLISON AND STONE
____________
Referred to Committee on Revenue
SUMMARY—Revises provisions relating to real property.
(BDR 32-923)
FISCAL NOTE: Effect on Local Government: May have Fiscal Impact.
Effect on the State: Yes.
~
EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.
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 of property taxes; and providing other matters
properly relating thereto.
Legislative Counsel’s Digest:
Existing law establishes partial abatements of property taxes for real property 1
that is: (1) a single-family residence which is the primary residence of the owner; or 2
(2) a residential rental dwelling that qualifies based on the amount of rent collected 3
from the tenants. (NRS 361.4723, 361.4724) Existing law requires a person who 4
files with a county recorder a deed evidencing a transfer of title of real property or a 5
land sale installment contract to also provide the county recorder with a declaration 6
of value of the real property made on a form prescribed by the Nevada Tax 7
Commission. The county recorder is prohibited from charging or collecting any fee 8
for recording the form. (NRS 375.060) This bill requires the Nevada Tax 9
Commission to include a section in that form in which a property owner is 10
authorized to claim a partial abatement of property taxes for a single-family 11
residence which is the primary residence of the owner or for a qualified residential 12
rental dwelling. 13
– 2 –
- *AB377*
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN
SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
Section 1. NRS 375.060 is hereby amended to read as follows: 1
375.060 1. Each deed evidencing a transfer of title of real 2
property or land sale installment contract that is presented for 3
recordation to the county recorder must be accompanied by a 4
declaration of value made on a form prescribed by the Nevada Tax 5
Commission. 6
2. The Nevada Tax Commission shall include in the form 7
prescribed pursuant to subsection 1 a section in which the 8
property owner may claim a partial abatement from taxation 9
provided pursuant to NRS 361.4723 or 361.4724. 10
3. A county recorder shall not charge or collect any fees for 11
recording the declaration of value required pursuant to this section. 12
Sec. 2. 1. This section becomes effective upon passage and 13
approval. 14
2. Section 1 of this act becomes effective: 15
(a) Upon passage and approval for the purpose of adopting any 16
regulations and performing any other preparatory administrative 17
tasks that are necessary to carry out the provisions of this act; and 18
(b) On October 1, 2025, for all other purposes. 19
H