NV AJR1

Proposes amending the Nevada Constitution to eliminate depreciation adjustments on improvements for the first fiscal year after real property is sold or transferred, effectively resetting the "age" of improvements to zero at time of sale

Removes eligibility for partial property tax abatements (annual caps on tax increases) during the first fiscal year following a property sale or transfer

For all subsequent fiscal years after a sale, requires depreciation calculations to treat improvements as if they were newly constructed on the date of sale or transfer

Exempts properties that already qualify for full property tax exemptions from these new provisions

Requires the Legislature to define "sale" and "transfer" through implementing legislation; resolution becomes effective upon passage