Under existing law, there is a property tax of 28 cents on each $100 of assessed valuation imposed in a taxing district comprising the unincorporated areas of Clark County and the City of Las Vegas for the purpose of employing peace officers with the Las Vegas Metropolitan Police Department. This property tax is composed of: (1) a rate of 8 cents on each $100 of assessed valuation in the taxing district, which was approved by the voters of the taxing district at the 1988 General Election and which is permanent; and (2) a rate of 20 cents on each $100 of assessed valuation in the taxing district, which was approved by the voters of the taxing district at the 1996 General Election and which expires on June 30, 2027. (NRS 354.5982; chapter 817, Statutes of Nevada 1987, at page 2284, as amended by chapter 585, Statutes of Nevada 1997, at page 2865, chapter 658, Statutes of Nevada 1995, at page 2534, as amended by chapter 585, Statutes of Nevada 1997, at page 2865) Sections 1 and 4 of this bill provide for: (1) the continued imposition of the property tax rate of 20 cents on each $100 of assessed valuation in the taxing district, for the period beginning on July 1, 2027, and ending June 30, 2057; and (2) the continued use of the proceeds of this property tax for the purpose of employing police officers with the Las Vegas Metropolitan Police Department. Section 2 of this bill makes a conforming change to ensure that the property tax rate continued pursuant to this bill is apportioned to the unincorporated areas of Clark County and the City of Las Vegas in the same manner as the existing property tax rate. Existing law provides for a partial abatement of property taxes, which has the effect of establishing an annual cap on increases of property taxes. (NRS 361.4722-361.4724) However, under existing law, certain property tax rates are exempt from this partial abatement, including, without limitation, a new or increased property tax rate that a taxing entity is required to impose or increase by any legislative act which becomes effective after April 6, 2005. Thus, with certain exceptions, such property tax rates are not included in the calculation used to determine the amount of property taxes abated under the existing law establishing an annual cap on increases of property taxes. (NRS 361.4726) Because the property tax rate of 20 cents on each $100 of assessed valuation, which was approved at the 1996 General Election for the purpose of employing police officers with the Las Vegas Metropolitan Police Department, was imposed before April 6, 2005, section 1 also provides that the property tax rate extended by that section is not exempt from the partial abatement of property taxes and, thus, is required to be included in the calculation used to determine the amount of property taxes abated. Section 3 of this bill makes a conforming change to continue the exemption of the property tax rate extended by section 1 from provisions of existing law limiting the amount of property tax revenue that may be received by certain local governments.

Statutes affected:
As Introduced: 280.201, 354.59811
BDR: 280.201, 354.59811