a service of the Nevada Policy Research Institute

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March 27, 2005
Vol 1, No. 5


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NPRI Commentary
Divide and
Conquer --  Again

By Steven Miller

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]

News Analysis
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).

News Stories:
Reno
Gazette-Journal

Las Vegas
Review-Journal

R-J chart

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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