Nevada Revised Statutes 387.195 – Levy of tax for county school district; deferred use of money attributable to net proceeds of minerals
1. Each board of county commissioners shall levy a tax of 75 cents on each $100 of assessed valuation of taxable property within the county for the support of the public schools.
Terms Used In Nevada Revised Statutes 387.195
- county: includes Carson City. See Nevada Revised Statutes 0.033
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Public schools: means all kindergartens and elementary schools, junior high schools and middle schools, high schools, charter schools and any other schools, classes and educational programs which receive their support through public taxation and, except for charter schools, whose textbooks and courses of study are under the control of the State Board. See Nevada Revised Statutes 385.007
2. The tax collected pursuant to subsection 1 on any assessed valuation attributable to the net proceeds of minerals must not be considered as available to pay liabilities of the fiscal year in which the tax is collected but must be deferred for use in the subsequent fiscal year.
3. In addition to any tax levied in accordance with subsection 1, each board of county commissioners shall levy a tax for the payment of interest and redemption of outstanding bonds of the county school district.
4. The tax collected pursuant to subsection 1 and any interest earned from the investment of the proceeds of that tax must be remitted by the county treasurer to the State Treasurer for credit to the State Education Fund.
5. The tax collected pursuant to subsection 3 and any interest earned from the investment of the proceeds of that tax must be credited to the county school district’s debt service fund.