How is my personal property valued?
Category:
Property Assessments
Your original cost x cost index - depreciation = taxable value. The Nevada Department of Taxation provides the cost index and depreciation factors used to determine the taxable values.
Taxable value is assessed at 35%. Taxable Value x .35 = Assessed Value.
EXAMPLE
|
ASSET |
ACQUISITION YEAR |
ORIGINAL COST |
COST INDEX |
DEPRECIATION |
TAXABLE VALUE |
ASSESSED VALUE |
|
Office Furniture |
2011 |
$663 |
1.06 |
51% |
$344 |
$120 |
Updated 2/27/2018 10:36 AM