Revises provisions relating to real property. (BDR 32-923)

2025 Regular Session Introduced by Carrie Buck and 11 co-sponsors

AB 377 lets property owners claim partial property tax abatements at deed transfer by using the declaration-of-value form, with no recording fee.

Approved by the Governor. Chapter 175.

Main purpose

AB 377 requires the statewide declaration-of-value form used when recording deeds or land-sale installment contracts to include a section that lets property owners claim certain existing partial property tax abatements at the time of transfer. The change is intended to simplify and streamline the process for claiming abatements for qualifying owner‑occupied single‑family residences and qualifying residential rental dwellings.

Key provisions

Amend NRS 375.060: The Nevada Tax Commission must add a section to the declaration‑of‑value form (the form submitted to county recorders with deeds) enabling a property owner to claim partial abatements under NRS 361.4723 (owner-occupied single‑family residence) or NRS 361.4724 (qualified rental dwelling).

Amend NRS 361.4723 (partial abatement for primary single‑family residences): Clarifies that a claim for the partial abatement may be submitted either on the county assessor’s form (as under current practice) or on the declaration‑of‑value form prescribed by the Nevada Tax Commission and recorded with the county recorder.

Rental dwelling claims: Similarly authorizes that claims for the rent‑based partial abatement for qualifying rental dwellings may be made on the declaration‑of‑value form presented with a deed.

Recording fee: Reaffirms that county recorders shall not charge a fee for recording the declaration of value.

Regulations and procedure: The Nevada Tax Commission is directed to adopt whatever regulations are necessary to implement the changes and to provide methodologies for applying abatements where only part of a parcel qualifies, etc.

Who is affected

Property owners transferring title to real property (owner‑occupants and owners of qualifying rental dwellings) — they may now elect to claim applicable partial abatements at the time of recording a deed via the declaration form.

County recorders — will continue to accept and record declaration‑of‑value forms without recording fees; may see increased usage of the form for abatement claims.

County assessors — may continue to accept claims via their forms; legislation and subsequent administrative practice may require coordination between recorders and assessors.

Local taxing entities — the state’s partial abatements reduce ad valorem tax receipts for taxing jurisdictions in proportion; fiscal impact noted as “may have fiscal impact” for local governments.

Procedural / effective dates

The bill authorizes the Tax Commission to adopt regulations and perform preparatory tasks upon passage and approval.

For other purposes, the provisions become effective October 1, 2025 (per enrolled bill language).

Fiscal notes in committee records indicate potential local fiscal effects, but no statewide appropriation was required.

Additional notes

The bill does not change the substantive eligibility rules for the abatements; it creates an additional, administrative pathway (the recorded declaration‑of‑value form) for filing claims at the time of transfer.

Stakeholder input (e.g., Nevada REALTORS, Nevada Association of Counties) supported streamlining and proposed clarifying amendments to ensure county assessors can accept forms from recorders.

Bill