Tax cap meeting well received
August 22, 2004
Nevada might be a few steps closer to capping the state’s property taxes as the result of a proposal at a legislative committee meeting Thursday in Las Vegas.
Three people representing Incline Village attended the Advisory Committee to the Legislative Committee for Local Government Taxes and Finance to hear a proposal by Clark County Assessor Mark Schofield to cap the state’s property taxes at 6 percent.
Chuck Otto, Ted Harris and Incline Village General Improvement District General Manager Bill Horn attended the meeting to show their support for the effort.
“It was well worth our time to be there in person,” Horn said. “It was good to show we were interested enough to go all the way down there.”
And their efforts were appreciated.
Otto and Horn agreed the committee understood the severity of the property tax problems in Incline and took into account problems in the village when considering capping property taxes statewide.
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“We were well received by the committee because they know Incline Village is very organized and in pursuit of this issue,” Otto said. “They seemed to grasp the concept and understand the implications. They know we’ve already been through this with the pain and agony of property tax increases.”
At the meeting, Schofield outlined reasons the cap was immediately necessary to implement, citing the median price of a home in Nevada went up 52 percent in just the last year, the Clark County’s assessor’s office received 700 property tax appeals last year but expects 18,000 to 20,000 this year, and the office has already received threats regarding the issue, some including the use of explosives, according to Otto.
“They have got to do something, Clark County is about to explode,” he said.
Schofield also presented how the property tax cap works by explaining a home would be assessed on the lesser of the cap or on the assessed value.
Commissioners are aiming for a balance to protect property owners and also to provide enough revenue for local governments, Horn said.
Many agreed property taxes need to be capped, but not necessarily at 6 percent.
“We support the idea,” Otto said in an earlier North Tahoe Bonanza article. “It’s the right thing to do, it’s the right time, and we’ll support the correct percentage – but it’s not 6 percent.”
Otto and Harris said the cap should be limited to 6 percent or inflation, whichever is less. Horn said a 6 percent cap is better than the alternative, which is a California-style Prop. 13.
Schofield said a decision has to be made by the end of February.