How is the tax computed?
In Nevada, property taxes are based on "assessed value." In the case of business personal property tax, a "taxable value" is arrived at by reducing the original or acquisition cost by the applicable depreciation factors that may be found in the schedules which are linked above. Assessed value is computed by multiplying the taxable value by 35%, rounded to the nearest $1.00.
To calculate the tax on your business that does not qualify for the tax abatement, let's assume you have a business with the following equipment in the City of Fallon with a tax rate of $3.50 per hundred dollars of assessed value.
To determine the tax see the example below:
Office furniture was purchased one year ago at a cost of .................. $1,200
The taxable value after depreciation is 1,200 x .87= ..........................$1,044
A computer was purchased year ago at a cost of ............................ $1,000
The taxable value after depreciation is 1,000 x .33 = ............................ 330
The total taxable value for above equipment is 1044 + 330 = ............. $1,374
The assessed value for the above equipment is 1,374 x .35 =................$ 481
The tax on the equipment would be 481 x. 035 = ............................. $16.84
The tax rates vary by district.

Show All Answers

1. What is personal property?
2. What types of business personal property are exempt from taxation?
3. Who must file a business personal property declaration with the Assessor?
4. What is the purpose of the declaration?
5. When may a business expect a personal property tax bill?
6. How is the tax computed?
7. How do I obtain a business personal property declaration?
8. Where can I get assistance in completing the business personal property declaration?