Nev. Admin. Code § 361.936 - Payment in annual installments: Installment agreement
If a titleholder chooses to pay in annual installments:
1. The
titleholder must enter into an installment agreement with the State of
Nevada.
2. The installment
agreement must contain a provision that the State Treasurer will adjust the
final installment payment to reflect any increase or decrease in the assessed
valuation of the property since the date of the application in accordance with
subsection 8 of
NRS
361.900.
3. The State Treasurer may:
(a) Calculate varying annual installments so
that the final installment payment will not be extraordinarily high.
(b) Estimate a projected rate of change in
the assessed valuation of the property so that each annual installment will
include a portion of the change and the final installment will not include the
entire amount of the change.
4. During the period of the installment
agreement, the titleholder remains liable for payment of his or her property
taxes until the final payment pursuant to the installment agreement has been
paid and the titleholder has been issued a certificate.
5. The titleholder may prepay the annual
installments without penalty.
Notes
NRS 361.900, 361.920
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