1. The county assessor shall enter on the assessment roll the valuation based on agricultural use until the property becomes disqualified for agricultural use assessment by:
(a) Notification by the applicant to the assessor to remove the agricultural use assessment pursuant to NRS 361A.270;
(b) Sale or transfer to an owner making it exempt from ad valorem property taxation;
(c) Removal of the agricultural use assessment by the assessor upon discovery that the property is no longer in agricultural use; or
(d) Failure to file an application as provided in NRS 361A.110.
2. Except as otherwise provided in paragraph (b) of subsection 1, the sale or transfer to a new owner or transfer by reason of death of a former owner does not operate to disqualify agricultural real property from agricultural use assessment so long as the property continues to be used exclusively for agricultural use, if the new owner applies for agricultural use assessment in the manner provided in NRS 361A.110.
3. Within 30 days after agricultural real property becomes disqualified under subsection 1, the county assessor shall send a written notice of disqualification by certified mail with return receipt requested to each owner of record. The notice must contain the nonagricultural assessed value for the ensuing fiscal year.
(Added to NRS by 1975, 1758; A 1977, 680; 1987, 676; 1991, 2101; 1993, 179)