Panel OKs tax increase
After nearly eight months, a state-sanctioned Washoe County committee voted Wednesday to seek an increase in vehicle registration fees and sales tax to be able to sell $393 million in bonds for school repairs and new technology.
The 15 members of the School Construction and Revitalization Advisory Committee, created last year by the Legislature, agreed unanimously about asking voters Nov. 4 to approve the increases.
“This is a great day for the Washoe County School District,” Superintendent Paul Dugan said. “After literally years of trying to develop additional revenue sources and going through countless meetings and
presentations, we finally have a package to put before the voters and one that I think is broad-based and fair.”
The committee said $24 million a year would be required to pay off such a bond debt and expects about $18 million a year from a quarter-cent sales tax increase.
Based on 2006-07 data, the increase in government services tax (vehicle registration fee) is expected to generate $5.5 million a year. The increase would be half cent per $1 of taxable value of the vehicle.
Both sources already provide money to the school district.
Last month, the committee said the district should use serial rollover bonds to raise the
$487 million needed to build nine schools by 2014 and eliminated that from the discussion.
“I think (the committee) wanted something that was broad-based and wouldn’t enter into a new tax arena,” Assemblywoman Debbie Smith, D-Sparks and a committee member, said. “I’m glad it’s done.”
The Nevada Legislative Counsel Bureau will write the question for the ballot.
“Now we have to go out and sell it,” said Penny Mayer, the committee member representing the Nevada Association of Realtors. “And I think everyone will be behind it when they see why.”
This article appeared originally in Reno Gazette-Journal.