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NPRI Commentary
Divide and
Conquer -- Again
FOR MONTHS Assembly Majority Leader Barbara
Buckley has made exceedingly obvious her party’s
desire to squeeze windfall property tax revenues
out of Nevadans for as long as possible.
Earlier this month she offered her complicated
Nevada Property Tax Rate Relief Credit plan, a
Rube Goldberg formula designed to continue
sticking it to the same property owners already
facing the biggest property tax increases. When
that was laughed offstage, Ms. Buckley became
explicit: While she might back a percentage
limit on tax increases for owner-occupied single
family homes, she wanted higher taxes kept on
any property with a taxable value over $500,000.
Recently she was forced to realize even that
class-warfare attack was still too blatantly
hostile to fly. So now she and her colleagues
have settled on yet a third scheme to expand the
looting of Nevada taxpayers.
Rather than attempting to divide homeowners from
each other, the new plan seeks to split
homeowners living in their residences from those
who live elsewhere and from owners of commercial
property. In other words, this particular class
warfare scheme takes a more cunning approach.
[more]
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Property tax plan paints target on back of Nevada
business
Seeks split roll, abridges ‘uniform and equal’ provision
of Constitution
FRIDAY MORNING, at a joint hearing, the Assembly Growth
and Infrastructure and the Senate Taxation Committees
introduced the draft bill for property tax relief.
You can download a copy of the bill draft
here.
Scheduled to be introduced Monday and assigned a bill
number, the plan’s main provisions are:
Section 1. The Legislative finding and declaration.
Section 2. Amendatory Language to NRS 361 (property
tax).
Section 3. Establishes a severe economic hardship to
the owner occupied single family residence to be an
increase in the tax bill greater than 3% over the prior
year tax bill. Provides the formula for calculating the
increase and limits the increase in property tax revenue
to 3% if there have been no increases attributable to
improvements or changes to the use of the property.
Requires the Tax Commission to adopt regulations to
carry out provisions and provides various definitions.
Section 4. Establishes the formula by which the tax is
increased for all other property not eligible for the
relief provided in Section 3. Also, requires the Tax
Commission to adopt regulations to carry out provisions
and provides various definitions.
Section 5. Allows a taxing entity to increase the
property tax rate if needed to satisfy any debt
obligations.
Section 6. Requires additional information to appear on
the tax bill.
Section 7. Creates a Legislative Interim Committee to
study the issue of property taxation.
Section 8. Provides these provisions do not apply to
taxes imposed before June 30, 2005.
Section 9. Provides for severability of provisions if
court finds any provision unconstitutional.
Section 10. Effective Date - "Upon passage and
approval".
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We’re getting our clock cleaned
MONTH AFTER MONTH and year after year, the Nevada
business community is finding itself the main course
on everybody’s dinner plate.
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