NV AB377

Nevada Tax Commission must add a section to the declaration of value form (filed with county recorder during property transfers) allowing property owners to claim partial property tax abatements at the time of purchase

Owners of single-family primary residences can now claim the 3% property tax cap abatement either through the county assessor or on the declaration of value form when recording a deed

Owners of qualifying residential rental properties (where rent does not exceed HUD fair market rent) can claim their 3% tax cap abatement on the declaration of value form instead of only through the annual June 15 filing with the county assessor

Effective October 1, 2025, with immediate effect upon passage for regulatory preparation