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AB 447

Provides for a partial abatement of the property taxes levied on certain residential rental dwellings. (BDR 32-1079)

2025 Regular Session Introduced by Melissa Hardy and 1 co-sponsor

Creates a pet-friendly path to a partial property tax abatement for Nevada rental homes, capped at $10 million per year, affecting owners, tenants, and local tax revenues.

(Pursuant to Joint Standing Rule No. 14.3.1, no further action allowed.)
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Bill Summary · AB 447

AB 447 — Partial property tax abatement for certain residential rental dwellings (BDR 32‑1079)

Summary (plain language)

AB 447 (2025) expands Nevada’s existing partial property‑tax abatement program for residential rental properties by creating an additional eligibility path for owners who adopt pet‑friendly policies. Specifically, owners of qualifying rental dwellings may receive a partial abatement of ad valorem property taxes if they do not impose certain fees or restrictions on companion animals. The law includes a combined annual cap on abatements and makes conforming/renumbering changes to statute.

Key provisions

  • Adds a new basis for partial abatement of county ad valorem property taxes for residential rental dwellings when the owner:
    • Does NOT charge a nonrefundable fee or additional rent related to a tenant’s companion animal; and
    • Does NOT limit the total number of companion animals a tenant may keep (except where a local jurisdiction imposes a limit); and
    • Does NOT impose breed or size restrictions on companion animals — except where a particular animal has been lawfully declared dangerous or vicious.
  • Maintains the preexisting abatement option that applies when collected rent does not exceed county fair market rent; the new pet‑policy pathway is an additional eligibility condition.
  • Limits the combined total amount of abatements provided under:
    • (a) the rent‑based abatement (NRS 361.4724) and
    • (b) the new pet‑policy abatement, to $10 million per fiscal year.
  • Amends NRS 361.4722 (the general partial abatement framework) to reflect the new provisions and adds conforming renumbering changes (Sections 3–5 of the bill).

How the abatement works (high level)

  • NRS 361.4722 sets the calculation framework for partial abatements: the abatement equals the amount by which the current‑year tax on a parcel (excluding valuation increases from improvements/changes of use) exceeds a baseline amount based on prior‑year taxes plus an allowed percentage increase (capped formula tied to historical county valuation changes or CPI, up to 8%).
  • AB 447 makes the pet‑policy eligibility subject to that abatement structure (and to the $10M annual combined cap).

Who is affected

  • Owners of residential rental dwellings in Nevada who meet the pet‑policy criteria (and owners who meet existing rent‑based criteria).
  • Tenants and prospective tenants with companion animals — could increase housing options where pet policies are more permissive.
  • County and local taxing entities — abatements reduce tax receipts (the law requires abatements be deducted proportionally from taxing entities’ shares). The statute establishes a cap to limit total fiscal exposure.

Fiscal and administrative impacts

  • Fiscal note: the change “may have fiscal impact” on local government; the bill establishes a $10 million per year combined cap on the new and existing abatements to contain state/local revenue exposure.
  • Local assessors and taxing agencies will need to implement processes to determine eligibility and apply abatements, and to allocate reductions among taxing entities as required by statute.

Procedure / effective date

  • Introduced: March 17, 2025.
  • Legislative history (selected):
    • Passed both houses (unanimous/consent calendar actions noted).
    • Enrolled and presented to the Governor: Sept. 2, 2025.
    • Approved by the Governor and chaptered: Oct. 6, 2025 (Chapter 363, Statutes of 2025).
  • The bill made conforming statutory changes (renumbering) in Sections 3–5.

If you want, I can extract and summarize the exact statutory text added to NRS 361.4722 and the new section wording, or prepare a one‑page memo on likely county revenue impacts and implementation steps.

Compiled from official sources — confirm details with the bill’s official record.

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