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Possibilities

Possibilities. The Iceberg. The Iceberg. $2 Million. $17 Million Infrastructure Reinvestment Needed Annually. What Have We Done So Far?. We Have Been Fiscally Responsible. More than $127 million in cuts Reduced Non-Public Safety Staff by 16%

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Possibilities

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  1. Possibilities

  2. The Iceberg The Iceberg $2 Million $17 Million Infrastructure Reinvestment Needed Annually

  3. What Have We Done So Far?

  4. We Have Been Fiscally Responsible • More than $127 million in cuts • Reduced Non-Public Safety Staff by 16% • Reduced Non-Represented Compensation by 6%-11% • Eliminated COLAs for employees for FY 2009 through FY 2014 • Concessions from all employees equal to 2% of pay for FY 2013 and FY 2014

  5. We Maintain Low Employee to Citizen Ratio 9.5 8.8 8.4 Number of employees 6.8 6.4 Per one thousand residents *City of Las Vegas includes portions of the Metropolitan Police Department and Las Vegas Valley Water District. Information compiled by City of Henderson Community Development Department May, 2013.

  6. City Property Tax Rate • *Includes Las Vegas portion of Metro

  7. What Can We Change Now? Possible Not Possible INCREASE Business License Fees Park and Recreation Fees Property Tax Rate INCREASE OR IMPOSE Sales Modified Business Tax Corporate Income Tax Personal Income Tax Gross Gaming Fees Mining Tax Governmental Services Fees Car Rental Taxes Insurance Premium Taxes Motor Vehicle Fuel Taxes Franchise Fees Room Taxes Live Entertainment Taxes CUT SERVICES

  8. Possible Recommendation

  9. Possibility #1Fee Increases

  10. Business License Fees $5.4 million FY2014 Budget Per NRS 354.5989 business license fees cannot be increased above a prescribed maximum.

  11. Parks and Recreation Fees $7.2 million Aquatics Sports Youth Enrichment Reservations and Room Rentals

  12. P&R Pricing Philosophy Public Services • Low level or no user fees • All users provide same level of access Merit Services • Partial or full cost recovery • User receives higher level of benefit than General Taxpayer • Provide community benefit Private Services • Full Cost Recovery • Benefit to User • No or little community benefit

  13. Potential Fee Increases Increase Participant ID Card $35K Increase Sports fees $200K Streamline Safekey fees $200K Increase ABC preschool fees $13K Increase Aquatic fees$75K Total $523K

  14. Comprehensive Rate Study • Last study 2009 • New Study

  15. Committee Discussion

  16. Possibility #2Property Tax rate

  17. Assessed Valuation (In Billions) FY 2014 is 48% below the peak of FY 2009 and still below the levels of FY 2006

  18. Property Tax Revenue All Funds 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 FY 2014 is 32% below the peak of FY 2009 and below the levels of FY 2006

  19. Property Tax Projection 4% increase per year Actual Projected

  20. Property Tax Projection 5% increase per year 4% increase per year Actual Projected

  21. Henderson Property Tax Revenue Lake Las Vegas 28% 11 years to recover 52% 25 years to recover North Green Valley P 554 C 306 R <248> P 470 C 338 R <132> P 802 C 662 R <140> P 1,499 C 718 R <781> Paradise Hills Anthem 45% 20 years to recover 17% 7 years to recover P = Peak C = Current R = Reduction

  22. Henderson Property Tax Revenue 28% 11 years to recover North Green Valley P 470 C 338 R <132> P = Peak C = Current R = Reduction

  23. Home Rate Calculation Would have been $239 higher without tax cap. 3% Growth Rate 6% Growth Rate

  24. Property Tax Rates * Las Vegas rate includes LV portion of Metro Calculated At Current Henderson Assessed Valuation

  25. Property Tax Rate Increases Current COH portion of Tax Bill is $435.37

  26. Possible Recommendation *Subject to Tax Caps - could be significantly less

  27. Committee Discussion

  28. Next Meeting December 4 Committee recommendations

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