(Pauline Lee) – I am a board member of Keystone Corporation, a nonpartisan pro-business organization. Our organization advocates for responsible regulation, low taxation, and private sector job creation. Today, I want to discuss why Keystone Corporation opposes Senate Bill 394 and why we believe increasing property taxes is a bad idea for businesses and residents alike.
Under SB 394, an additional 10 cents for each $100 of assessed valuation will be added to property taxes. While this may seem like a small amount, it will have a significant impact on businesses and residents. Currently, inflation is at double digits, and our families and businesses cannot afford more taxes. Adding more taxes will only make things worse.
Moreover, our citizens are already struggling with food insecurity, high rental rates, and a labor shortage caused by the Covid shutdown. The high cost of groceries, fuel, and utilities is putting additional pressure on families. In such a scenario, increasing property taxes will only add to their burden.
Furthermore, increasing property taxes will negatively affect apartment owners who will pass the additional costs to their renters. As a result, people already struggling with high rental rates will have to pay even more. This will make it harder for families to make ends meet, and businesses will suffer as a result.
Lastly, Nevada has a budget surplus this year, and a significant portion has already been directed towards education. Given this, SB 394 is untimely and should not be approved. Instead, we should focus on improving our education system by giving parents the opportunity to choose the school that best fits their child’s needs. School choice is a winning formula that will benefit our students and their families.
In conclusion, Keystone Corporation opposes Senate Bill 394, and we urge lawmakers to reconsider their decision to increase property taxes. Let’s focus on improving our education system and supporting our families and businesses during these tough times. Together, we can build a better Nevada.