Provides for a partial abatement of the property taxes levied on certain residential rental dwellings. (BDR 32-1079)

AB 447 provides additional property tax relief for Nevada rental property owners who meet specific conditions. To qualify, owners must not charge rent exceeding the county’s fair market rent *and* must not impose nonrefundable pet fees, limit the number of pets (except local jurisdiction limits), or restrict pet breeds/sizes (except for dangerous animals). This creates a new tier of tax abatement, with a total annual cap of $10 million across all qualifying properties. The bill directly affects residential rental property owners who maintain pet-friendly policies while keeping rents at or below fair market value.