Declaration of Value – State of Nevada (pdf file)
Instructions for Completing the Declaration of Value Form
ASSESSOR PARCEL NUMBER
List all Assessor Parcel Numbers that appear on your document. This number may be obtained from the Assessor’s Office.
TYPE OF PROPERTY
Check all applicable types of property for each Assessor Parcel number listed. Use “Other” for water rights, patented/unpatented mining claims, etc…
TOTAL VALUE/SALES PRICE OF PROPERTY
This is based on the actual selling price or the estimated market value. Enter the full price of the property. Include any type of consideration paid (this can be personal property as well as cash, i.e.: land swap, livestock, stock in a company, etc…). Purchase price is the amount paid or to be paid and consists of cash paid, loans assumed, new loans obtained and the value of any personal property given. Estimated market Value is defined (per NRS 375.010 subsection #2) as the estimated price the property would bring on the open market; such price may be derived from the assessor’s t axable value or the prior purchase price, if the purchase was within the last 5 years (whichever is higher).
Transfer Tax Value: Enter the total amount of the taxable value or sales price of the property. Real Property Transfer Tax is $1.95 per $500 ($3.90 per $1000) or portion thereof of actual cash value.
IF AN EXEMPTION IS CLAIMED (EXCEPTION, NOT THE RULE)
When an exemption is claimed write the exemption number from the list of exemptions and complete Section 4 a & b. (See Exemption List Requirements ) NRS 375.090
Place the exemption number in item 4a.
Provide complete explanation in item 4b. The following is a list of what is needed for item 4b.
Explanations for the following transactions will be required: (item 4b)
- Wills – pursuant to a Will
- Exemption #3 – Explanation of why Exemption #3 is being used. (True Status will not work) provide vesting doc # if necessary.
- Exemption #4 – Vesting Doc # must be noted and “no consideration” stated. (For removal of Joint Tenant)
- Exemption #5 – Must have family relationship noted.
- Exemption #7 – Wording must include “no consideration”
- Exemption #9 – “I/We (names) own 100% of (company name). There are no other owners.
Enter portion of interest being conveyed. if only a portion of interest is being conveyed, please ask for assistance in computing the transfer tax, as there are several contributing factors.
SIGN THE FORM
It is important that you read the statement above the signature area on the Declaration of Value form prior to signing.
It is preferred that both parties complete and sign the form as both Seller/Grantor and Buyer/Grantee are jointly and severally responsible for payment of the Transfer Tax. Below is a list of titles that are frequently used:
Agent for (name)
Trustee of (list Trust)
NAME & ADDRESS OF THE GRANTOR(S)/GRANTEE(S)
These Names and Addresses must match the Deed.
If there is more than one Grantor/Grantee, a lsit of all Grantors/Grantees (and addresses, if different) must be listed on a separate page and attached as additional page(s). If either party is a “Trust”, the full name of the trust must appear.
COMPANY/PERSONS REQUESTING RECORDING
If someone other than the Grantor/Grantee submits the document for recording, this area must be completed.