New Nevada Timeshare Tax Law

[The Plain Speaker Junior Member Find all posts View Profile Close The Plain Speaker]

According to the Nevada County Recorder Office in Las Vegas this morning a law was passed on July 1st that tax on timeshares will no longer be accepted for transfer at a nominal fee.
Tax will be figured at $5 per $1000 based on the last sales price if sold within the last five years and if the sale was previous to five years ago then proof of the current transfer sales price must be provided with signatures or they will not record the deed transfer.

[The Plain Speaker Junior Member Find all posts View Profile Close The Plain Speaker]

After spending the last three days speaking on the phone with the Nevada Board of Taxation and The Clark County Recorders office it appears this new law passed on all real estate is that signed documentation of the purchase price must be provided or the tax rate will be determined by the price the real estate sold for, if sold within the last five years.
The county recorders office has offered three different explanations of how this law is to be applied but if transferring a deed in Nevada it would be best to send a cover letter indicating there is enclosed a copy of the sales agreement.
If the agreement is denied then an appeal is possible after paying the tax and the appeal will be reviewed by the Board of Taxation attorneys to determine if any refund is warranted.
It seems this law would rarely be applied according to the third explanation received from the County Clerks office.