With all due respect to Jeremy Aguero, the go-to guy for numbers crunching in Nevada, I sometimes wonder what world he lives in.
He states, “For taxpayers, the (property tax) cap has been a windfall, saving them $700 million since it was enacted — money they were able to save or invest in the economy.”
Windfall? Save or invest? Is he serious? At best, the cap gave people an outside chance to hold on to their homes. It was a small help to seniors to keep body and soul together in the face of the Federal Reserve’s zero interest rates on their life savings.
Mr. Aguero should not be wasting the legislators’ time with stories about our property tax structure or the history of property taxes in Nevada. All his efforts, both publicly and privately, should be focused on the unintended consequences of the CPI rolling average. Any attempt to “expand the conversation” to the caps themselves is a disaster waiting to happen for any legislator foolish enough to listen to the local goernments siren song of: “The people want services — pay up! Show us the money!”