Nevada Revised Statutes 361.086 – Exemption of certain property used for housing elderly persons or persons with disabilities
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All real property and tangible personal property used exclusively for housing and related facilities for elderly persons or persons with disabilities are exempt from taxation if:
Terms Used In Nevada Revised Statutes 361.086
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
1. The property was wholly or partially financed by a loan under the Housing Act of 1959, as amended, 12 U.S.C. § 1701q; and
2. The property is owned or operated:
(a) By a nonprofit corporation organized under the laws of the State of Nevada; or
(b) By a nonprofit corporation organized under the laws of another state and qualified to do business as a nonprofit corporation under the laws of the State of Nevada.