CARSON CITY — A state panel was told Wednesday that property tax revenue will not be enough to cover the costs of yet another two-year Nevada budget.
The Public Works Board heard the news, as it began a two-day review of projects state agencies from the Department of Corrections to Tourism and Cultural Affairs were requesting.
Public Works Board Manager Gus Nuñez said state agencies have submitted 201 projects worth $528 million for consideration for the upcoming budget. The state funding portion totals $460 million.
The capital construction program for the current budget totals $53 million, with $27 million in bonding from property taxes.
Jeff Mohlenkamp, state budget director and Public Works Board member, said the state’s small share of property taxes traditionally has been used to finance bonds to pay for construction projects.
“Once again we feel that there is going to be very little if any capacity for bonding within property taxes,” he said. “Right now I’m currently in discussions with the Treasurer’s Office and believe that that is not going to be a source of additional bonding capacity for us to look at.”