Property Tax Plan

By: Staff
By: Staff

The committee vote will be followed by a full Assembly vote.
Then the plan goes to the Senate for final legislative action.
Lawmakers want to send the proposal to Governor Guinn by the end of
the week.
Using a clause in the Nevada Constitution that allows tax
exemptions for homeowners experiencing "severe economic
hardship," the bill would cap property tax increases at three
percent for all single-family, owner-occupied residences.
Other properties - largely commercial property and residences -
would get a reduction based on a 10-year average increase or would
see bills capped at twice the rate of inflation, whichever provided
a bigger tax break.

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