Nevada Revised Statutes 371.050 – Valuation of vehicles
1. Except as otherwise provided in subsections 3 and 4, valuation of vehicles must be determined by the Department upon the basis of 35 percent of the manufacturer’s suggested retail price in Nevada excluding options and extras, as of the time the particular make and model for that year is first offered for sale in Nevada.
Terms Used In Nevada Revised Statutes 371.050
- Department: means the Department of Motor Vehicles. See Nevada Revised Statutes 371.020
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Vehicle: means any vehicle required to be registered pursuant to the provisions of chapter 482 or 706 of NRS, except mobile homes as defined in NRS 482. See Nevada Revised Statutes 371.020
2. If the Department is unable to determine the manufacturer’s suggested retail price in Nevada with respect to any vehicle because the vehicle is specially constructed, or for any other reason, the Department shall determine the valuation upon the basis of 35 percent of the original retail price to the original purchaser of the vehicle as evidenced by such document or documents as the Department may require.
3. For each:
(a) Bus, truck, truck-tractor or combination of vehicles having a declared gross weight of 10,000 pounds or more; and
(b) Trailer or semitrailer having an unladen weight of 4,000 pounds or more, the Department may use 85 percent of the original purchaser’s cost price in lieu of the manufacturer’s suggested retail price.
4. If the Department is unable to determine the original manufacturer’s suggested retail price in Nevada, or the original retail price to the purchaser, the Department may determine the original value of the vehicle on the basis of 50 cents per pound.
5. For motor carriers which register pursuant to the provisions of the Interstate Highway User Fee Apportionment Act, the Department may determine the original purchaser’s cost price of the vehicle on the basis of its declared gross weight in a manner which the Department finds appropriate and equitable.