Nev. Rev. Stat. § 393.240
Appointment, report and compensation of appraisers; exceptions
Nevada · Nevada Revised Statutes Chapter 393 — School Property · Status: effective
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- Nev. Rev. Stat. § 393.240, Appointment, report and compensation of appraisers; exceptions, Nevada, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2111567
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Full text
1. Except as otherwise provided in this section and NRS 393.3251 to 393.3255, inclusive, if the board of trustees proposes to sell or lease any real property, the board shall appoint one appraiser. A second appraiser must be appointed by the Superintendent of Public Instruction.
2. The appraisers shall make a report to the board of trustees of their findings and determinations of the cash market value of the property proposed to be sold, or the rental value of the property proposed to be leased.
3. Except as otherwise provided in this section and NRS 393.270, no sale or lease of real property may be made for less than the value fixed by the appraisers, but this requirement does not apply to a conveyance without charge to another political subdivision.
4. The compensation of each appraiser appointed pursuant to the provisions of this section must be fixed by the board of trustees and is a legal charge against the school district fund.
5. The board of trustees may sell real property without an independent appraisal if the property is reasonably determined by the board to have a fair market value of $5,000 or less.
6. If the board of trustees proposes to sell a house or other structure that is built by pupils enrolled in a program of instruction offered by a public school in the school district, the report concerning the cash market value of the house or other structure required to be submitted to the board of trustees pursuant to the provisions of subsection 2 must be prepared and submitted by an appraiser appointed by the board.