1. The owner of a single-family residence may file a claim to postpone the payment of all or any part of the property tax accrued against his or her residence if:
(a) The residence is placed upon the secured or unsecured tax roll and has an assessed value of not more than $175,000;
(b) He or she or any other owner of the residence does not own any other real property in this state that has an assessed value of more than $30,000;
(c) The residence has been occupied by the owner for at least 6 months;
(d) The owner is not the subject of any proceeding for bankruptcy;
(e) The owner owes no delinquent property taxes on the residence for a year other than the year in which the application is submitted;
(f) The owner has suffered severe economic hardship that was caused by circumstances beyond his or her control, including, without limitation, an illness or a disability that is expected to last for a continuous period of at least 12 months; and
(g) The total annual income of the members of the owner’s household is at or below the federally designated level signifying poverty.
2. The amount of property tax that may be postponed pursuant to the provisions of NRS 361.736 to 361.7398, inclusive, may not exceed the amount of property tax that will accrue against the single-family residence in the succeeding 3 fiscal years.
(Added to NRS by 2003, 1621)