Nevada Tax Commission to certify combined tax rate to boards of county commissioners; procedure when additional levy of taxes ad valorem approved by voters of school district causes combined rate to exceed statutory limitation.
1. After the approval of the final budgets for the various local governments as defined in NRS 354.474 and their submission to the Department, for examination and approval, the Nevada Tax Commission shall certify to the board of county commissioners of each of the several counties the combined tax rate necessary to produce the amount of revenue required by the approved budgets, and shall certify that combined rate, to each of the boards of county commissioners.
2. If the voters of a school district approve an additional levy of taxes ad valorem pursuant to NRS 387.3285 or 387.3287 or the issuance of bonds or other debt to be repaid by a levy of taxes ad valorem throughout the district, and the Department finds for any fiscal year that the additional rate of tax required for this purpose, when added to the rates of taxes ad valorem authorized to be levied in the district by other local governments and the State for that fiscal year would cause the combined rate within the territory of any other local government to exceed the rate allowed by NRS 361.453, the Department shall determine:
(a) The amounts by which the proposed levies for all of the other local governments whose rates affect the territory have increased from the previous year; and
(b) The portion of the amount by which the combined rate would exceed the rate allowed by NRS 361.453 that is directly attributable to the additional levy approved by the voters for the school district.
3. If the Department determines that any portion of the amount by which the combined rate would exceed the rate allowed by NRS 361.453 is directly attributable to the additional levy approved by the voters for the school district, the school district shall:
(a) Reduce for the fiscal year the amount levied pursuant to NRS 387.3285 or 387.3287, or both, if the proceeds of the levy are not already committed for debt service, by the amount determined by the Department to be directly attributable to the school district;
(b) Transfer to the other local government whose rate overlaps in that territory an amount of money, determined by the Department to be directly attributable to the school district, to reduce the combined rate to the rate allowed; or
(c) Determine and implement a combination of the methods of reduction allowed by paragraphs (a) and (b) that will result in the reduction of the combined rate by the amount determined by the Department to be directly attributable to the school district.
4. If a school district determines that it will proceed pursuant to paragraph (b) or (c) of subsection 3, the Department shall calculate the transfers so as to minimize the total amount transferred, and each local government to which a transfer is made shall correspondingly reduce its rate and file a revised budget within the time allowed by subsection 6 of NRS 361.455. The amounts transferred must be paid in installments, within 30 days after each installment of property taxes is due.
Last modified: February 27, 2006