PERSONAL PROPERTY

MANUAL

2015-2016

N E V A D A D E P A R T M E N T O F T A X A T I O N

D i v i s i o n o f L o c a l G o v e r n m e n t S e r v i c e s

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D i v i s i o n o f L o c a l G o v e r n m e n t S e r v i c e s

Personal Property Manual

2015-2016

Department of Taxation Division of Local Government Services

1550 E. College Parkway, Suite 115 Carson City, NV 89706

Phone 775.684.2100 Fax 775.684.2020

Draft Version

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C O N T E N T S 2015-16 PERSONAL PROPERTY MANUAL

Introduction ............................................................................................................................................................................. iii

Exempt Property ................................................................................................................................................................ iii

Procedures for Determining Taxable Value .................................................................................................................. iv

A Note on NAICS ............................................................................................................................................................. vi

Manual Features ................................................................................................................................................................. vi

2015-16 Cost Conversion Factors ........................................................................................................................................ 1

Three (3) Year Life ............................................................................................................................................................. 1

Five (5) Year Life ................................................................................................................................................................ 2

Seven (7) Year Life ............................................................................................................................................................. 3

Ten (10) Year Life ............................................................................................................................................................... 4

Fifteen (15) Year Life ......................................................................................................................................................... 5

Twenty (20) Year Life ........................................................................................................................................................ 6

Thirty (30) Year Life ........................................................................................................................................................... 7

Mobile Homes (Sold On Or After July 1, 1982) ............................................................................................................ 8

Billboards .............................................................................................................................................................................. 9

Special Properties .................................................................................................................................................................. 11

Short-Life Property ........................................................................................................................................................... 11

Information Systems ........................................................................................................................................................ 11

Taxable Software(Not Associated with Computer-Integrated Machinery) ............................................................. 13

Computer-Integrated Machinery .................................................................................................................................... 14

Computerized Equipment ............................................................................................................................................... 14

High-Tech Medical Diagnostic Equipment .................................................................................................................. 15

High-Tech Electronic Medical Equipment ................................................................................................................... 15

Office Furniture, Retail Sales Equipment, Other ........................................................................................................ 16

Mobile or Manufactured Homes .................................................................................................................................... 16

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Billboards ............................................................................................................................................................................ 17

Life Expectancy Guidelines ............................................................................................................................................... 18

Agriculture and Forestry .................................................................................................................................................. 18

Mining ................................................................................................................................................................................. 19

Utilities ................................................................................................................................................................................ 20

Construction ...................................................................................................................................................................... 20

Manufacturing .................................................................................................................................................................... 22

Wholesale Trade ................................................................................................................................................................ 30

Retail Trade ........................................................................................................................................................................ 30

Transportation and Warehousing ................................................................................................................................... 31

Information ........................................................................................................................................................................ 32

Real Estate, Rental, and Leasing ..................................................................................................................................... 33

Professional, Scientific, and Technical Services ........................................................................................................... 35

Waste Management and Remediation Services ............................................................................................................ 36

Health Care and Social Assistance ................................................................................................................................. 37

Arts, Entertainment, and Recreation ............................................................................................................................. 38

Accommodation and Food Services .............................................................................................................................. 39

Other Services ................................................................................................................................................................... 40

Appendix 'A' Nevada Revised Statutes and Nevada Administrative Code Related to Personal Property .......... 42

Appendix 'B' Methodology Used to Estimate Cost Indexes................................................................................... 53

Appendix 'C' Methodology Used to Estimate Expected Useful Life ................................................................... 56

Appendix 'D' Exemptions from Property Taxes ......................................................................................................... 58

Exemptions from Property Taxes .................................................................................................................................. 58

Table of Exemptions ........................................................................................................................................................ 59

Appendix 'E' Determining Whether Fixtures are Real or Personal Property .................................................... 74

Index ......................................................................................................................................................................................... 76

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I N T R O D U C T I O N

2015-16 PERSONAL PROPERTY MANUAL

C L A S S I F I C A T I O N O F P R O P E R T Y

Personal pro