§ 15.01.090. Appraisal requirements.

(a)

When required. Except for real property acquired pursuant to NRS 371.047, and except as provided in section 15.01.150 below, when the value of the property to be sold or leased exceeds $1,000.00 in value and except as provided below, the property shall be appraised by:

(1)

Two independent appraisers selected from the appropriate list of appraisers as provided in section 15.01.080 above or

(2)

One independent appraiser selected from the appropriate list of appraisers as provided in section 15.01.080 above if the city council holds a public hearing on the matter of the fair market value of the real property.

(b)

Standards. In addition to the minimum qualifications of the appraiser as set forth in section 15.01.040, the following standards shall apply to an appraisal, or appraisals:

(1)

Each appraisal shall be conducted in accordance with the Uniform Standards of Appraisal Practice established by the Appraisal Foundation, and in accordance with the standards and procedures required by Nevada law;

(2)

Each appraisal shall be based on the zoning of the property and the master plan for the city; and

(3)

Each appraisal must be completed within six months before the date of the public meeting.

(Ord. No. 5795, § 2, 1-11-06; Ord. No. 5991, § 2, 12-12-07)