Here We Go Again: Legislature Poised to Raise Taxes

On the heels of Nevada’s largest tax increase, crafted in 2015, legislators are again looking for additional sources of revenue. This time, it comes in the form of AB 43, which modifies the current law on property tax caps. And it comes at a time when businesses are just starting to recover from the worst recession in recent history.

I have an idea. How about our government learns to budget and work with the resources they have, as every business in Nevada has to do? In the private sector, our reality seems to be much different than that of the public entities. If we don’t budget, we simply can’t afford the things we need to make our businesses successful. The public sector maintains the mentality that if they go over budget, they’ll simply find a way to increase taxes. And, you and I will end up paying for it.

As a taxpayer, I’m tired of paying more while seeing the misuse of the funds already paid in. If you’re a regular reader of this column, you may get the impression I’m anti-tax. That’s not the case at all. I believe we should all pay our fair share to improve and maintain the infrastructure in our communities. But it’s discouraging when you look at where the money is actually going. I encourage you to check out the Nevada Piggy Book at NPRI.org for a few examples of frivolous spending.

Consider for a moment the cost of living increases during the Great Recession. I don’t know about your business, but survival for most businesses dictated a freeze or reduction on expenditures. Of course, the exception was government workers who got regular raises during a time when the private sector was struggling to survive and hang on to employees.

Every two years, when our legislators meet, they consider ways to increase funding. AB 43, put forth by the Nevada Association of Counties (NACO) would establish a floor for property tax increases and modify the existing tax cap law, which was enacted in 2005 to protect Nevadans from soaring property taxes. AB 43, among other things, revises the formula for calculating partial abatement so the annual cap on increases of property taxes can’t be lower than 3 percent. In addition, the bill would change the Consumer Price Index used from a single year to a 10-year rolling average.

The current tax cap law was created to protect business and consumers from having to pay unrealistically expensive property taxes. It’s one of the things that has fueled economic growth in our communities. To change the law now, when businesses that survived the recession are just getting back on their feet, is counterproductive.

CALL TO ACTION: Say “No” to AB43. Reach out to your representatives and let them know you’re against making a change to the property tax cap. Raising property taxes is not conducive to a growing economy and our government needs to stop asking for more. They simply need to take a lesson from the private sector, stop misusing the funds they have, and learn how to live within their means.

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.”

Originally Published:

http://www.nevadabusiness.com/2017/04/here-we-go-again-legislature-poised-to-raise-taxes/

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