In Nevada, for purposes of real property appraisal, depreciation is calculated at 1.5 percent of the cost of replacement for each year up to 50 years. The actual location of the property must be reported and listed separately for each individual location.All personal property used for the business should be listed completely and accurately. The cost and year of acquisition should be listed on the declaration. ◇ Installation and set up costs necessary to make the property operational. (b) Standards for determining the cost of replacement of personal property of various kinds. In this case, such tools become assessable as business personal property and must be reported. Failure to file a complete asset listing requires the Assessor to make an estimate of the value of your business property's taxable value.
