Nevada § 361.463 Reduction of tax levy which exceeds statutory limitation; priority of taxes levied for payment of bonded indebtedness

Nevada Statutes

§ 361.463 — Reduction of tax levy which exceeds statutory limitation; priority of taxes levied for payment of bonded indebtedness

Nevada § 361.463

Title 32REVENUE AND TAXATION

Ch. 361Property

LEVY OF TAX

This text of Nevada § 361.463 (Reduction of tax levy which exceeds statutory limitation; priority of taxes levied for payment of bonded indebtedness) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 361.463 (2026).

Text

1.In any year in which the total taxes levied by all overlapping units within the boundaries of the State exceed the limitation imposed by NRS 361.453 , and it becomes necessary for that reason to reduce the levies made by any of those units, the reduction so made must be in taxes levied by those units (including the State) for purposes other than the payment of bonded indebtedness, including interest thereon.

2.The taxes levied for the payment of bonded indebtedness and the interest thereon enjoy a priority over taxes levied by each such unit (including the State) for all other purposes where reduction is necessary to comply with the limitation imposed by NRS 361.453 .

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1. In any year in which the total taxes levied by all overlapping units within the boundaries of the State exceed the limitation imposed by NRS 361.453 , and it becomes necessary for that reason to reduce the levies made by any of those units, the reduction so made must be in taxes levied by those units (including the State) for purposes other than the payment of bonded indebtedness, including interest thereon.
2. The taxes levied for the payment of bonded indebtedness and the interest thereon enjoy a priority over taxes levied by each such unit (including the State) for all other purposes where reduction is necessary to comply with the limitation imposed by NRS 361.453 .