December 22, 2014
Assembly Speaker Richard Perkins, D-Henderson, and Senate Minority Leader Dina Titus, D-Las Vegas, have requested a bill draft to cap increases in Nevadans' property taxes.
The two Democrats said Tuesday the bill is needed because of rapidly escalating property value assessments that experts say could cause taxes of some homeowners to increase as much as 200 percent in the next few years.
Perkins and Titus said they know others, including the Clark County assessor, are working on possible legislation, but they want a bill draft reserved now to show that property tax reform would be a top priority in the next legislative session.
The two key lawmakers didn't provide details of the cap, but said it wouldn't jeopardize critical local government services, including fire and police protection and public schools. The state gets only a small amount of property tax revenue, while local governments rely heavily on it as a money source.