Revenue Forecasting for Nevada’s State Government

Prior to the 1980’s, the Nevada Legislature approached spending with a measured, responsible eye. Over a couple of years back then, it converted to push hard for more and more spending every session. This attitude was not a function of Nevada’s growth rate, which has run at a constant rate since the 1960s.

During the late 80s and early 90s, the Legislature’s zeal to spend led to an embarrassing series of “budget cuts” caused by the Legislature’s aggressive forecasts of revenue. They planned unrealistic increases in …

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Imaginary Budget Cuts

When a Nevada political leader tells you that we’re facing 30% budget cuts, you can be sure that they are an employee, contractor or other direct beneficiary of government spending. Because it’s just not true.

Here’s a great post from NPRI showing the reality of Nevada’s taxes, including the latest projection:

YEAR

2004

2005

2006

2007

2008

2009

% Change

31.7%

14.1%

11.5%

2.8%

-2.9%

-9.1%

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Deceptive Statistics Alert

Local opinion columnist Geoff Schumacher wrote in today’s Review Journal that Nevadans should pay more taxes:

Lawmakers shouldn’t be scared to death of raising taxes. Nevada’s tax burden is the nation’s second lowest, according to the nonpartisan Tax Foundation. This sound sgreat on the surface but it crassly ignores the significant social costs. Idealogues aside, most Nevadans understand that maintaining the many facets of a decent state requires adequate funding.

Indeed, the Tax Foundation is nonpartisan, and did find Nevadans’ tax burden is the nation’s second lowest. …

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September Sales Tax Collections Down

Compared to a year ago, September sales tax collections were off more than five percent, a continuing indicator that Nevadans are either fewer than they were one year ago and/or have stopped spending as much money per person.

Coverage from the Las Vegas Review Journal.

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Gaming Taxes

Gaming Taxes article needs developing here.

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Nevada’s “Expenditure Need” Low

The Urban Institute is a “non-partisan think tank” (doesn’t everyone claim to be?) that has published a comparative study of the 50 states, looking at each state’s revenue capacity, expenditure need, and overall level of fiscal capacity. The link is to a PDF file that includes the entire 90-page report.

The study defines a state’s expenditure need as

the amount that a state would have to spend on its residents to provide services on par with the national average. Expenditure need is calculated across seven broad spending …

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Nevada Fourth Worst State To Own A Car

Forbes Magazine has published a list of the ten worst states in which to own a car, based on true cost of ownership. Between Nevada’s car taxes and fuel taxes, we ended up in fourth place on the report.

Being a state without an income tax is a double edged sword. On the good side, it makes government funding much more stable than our neighbors who rely on income taxes. The down side is that some of our citizens seem to feel that without an income …

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LVCVA

The Las Vegas Convention and Visitor’s Authority is building a huge expansion but it is primarily cosmetic improvements.

Here is it’s online brochure. At the bottom of page 9, LVCVA reveals that the project will increase meeting space by 86,810 sq. feet. Dividing this into the $890-million project cost yields just over $10,000 per square foot. The cost is so high because of the non-productive expenditure’s built in.

The Las Vegas Convention and Visitor’s Authority has two missions: the first is to advertise Las Vegas to the …

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Gas Tax in Nevada

Nevada has high gas taxes, but not the highest of the US states. See this website and chart.

Nevada’s gas tax is earmarked for the “highway fund.” About 20% of the highway fund is used to operate the Department of Motor Vehicles, a bit more is earmarked for the Department of Public Safety (mostly the highway patrol) and the rest is earmarked for the Department of Transportation, which spends its funds maintaining state highways and sometimes building more of them.

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Nevadans’ 2003 Tax Hikes Rank Third Steepest

Nevadans’ taxes per person increased $1,326 from 2003 to 2008. Multiply that by the number of people who live in your house to calculate your household’s state and local tax hikes over the past five years.

Nevada ranks third in tax hikes per person behind New Jersey and Connecticut.

The data is amongst the many nuggets included in the Americans For Tax Reform “Cost of Government Day” collection.

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