How Is My Personal Property Valued?

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