A bill in for consideration at the Nevada Legislature, SB96, would raise the annual cap on property taxes. The bill was introduced by the Senate Committee on Revenue and Economic Development and presented by Senator Dina Neal (D). With Nevadans struggling to feed their families and many businesses barely meeting payroll, now is not the time to raise taxes.
Currently, there is a 3 percent cap on property taxes for owner-occupied single-family homes and an up to 8 percent cap for commercial and rental properties. This bill would change the limits to require a minimum of 3 percent. Under the bill, residential rates would go up by 3 percent each year and commercial properties would see a cap between 3 and 8 percent each year.
Proponents of the bill include the Nevada Association of Counties whose leadership claims that an increase is needed in order for local governments to have a stable source of revenue and provide consistent local services. But what about funds from increased property values and additional development? Or, why not tighten up expenditures and better manage budgets, like every Nevada family and business continues to do to fight inflation?
I’m not sure what world Senator Neal is living in, but to impose more taxes on residents during this inflationary period, doesn’t seem to be in the best interest of her constituents, or Nevadans as a whole. Especially considering the state has an almost $2.3 billion budget increase over the last two-year budget, according the Nevada Economic Forum.
So, while state government is looking at a huge surplus in the budget, and Nevada residents and businesses are seeing record inflation, gas prices and housing costs, this bill gets proposed. Senator Neal took a look at Nevadans struggling to pay their bills and, instead of throwing a life preserver, suggested the Legislature throw an anchor.
If passed, this bill would also be a challenge to Governor Lombardo’s campaign trail promise not to raise taxes. After Nevada’s Economic Forum released their projection on the budget surplus in late December, Governor Lombardo said in a statement, “These numbers demonstrate there is no need for a tax increase of any sort, and I look forward to making my administration’s budget priorities fit within these projections while still acting fiscally responsible and saving money for a rainy day.”
Call to Action: In the words of President George Bush senior, “Read my lips, no new taxes.” I think it’s time to remind Nevada’s Legislative politicians that, as much as you try, you simply can’t squeeze water from a stone. Nevada businesses and people are already struggling under a heavy fiscal burden and our leadership shouldn’t be adding more.
By Whose Authority?
For more information on my Commentary and to see some of my backup research, or if you wonder why I take the position I take, go to www.LyleBrennan.com.
2 Chronicles 7:14 (NKJV) “If my people who are called by My name will humble themselves, and pray and seek My face, and turn from their wicked ways, then I will hear from heaven, and will forgive their sin and heal their land.”