Chart: Local Government Property Tax Revenues - 8 News NOW

Desert Underwater

Chart: Local Government Property Tax Revenues

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Property tax revenue for Clark County, Las Vegas, Henderson and North Las Vegas rose rapidly from fiscal 2005 before peaking in fiscal 2009, and then heading over the cliff.

Clark County's property tax revenue, $383.1 million in fiscal 2009, fell to $274.9 million last fiscal year, ending in June. But North Las Vegas has been hit the hardest, which explains its massive job layoffs. After collecting $85.8 million in property taxes in fiscal 2009, North Las Vegas expects to collect only $49.8 million in the current fiscal year, a drop of 42 percent. By comparison, the drops in Las Vegas, Clark County and Henderson are 31.8 percent, 28.2 percent and 26.3 percent respectively.

North Las Vegas residential property, valued at $15.8 billion in fiscal 2009, is only valued at $7.6 billion this fiscal year. Likewise, residential property values plunged in Clark County from $181.9 billion in fiscal 2009 to $98.5 billion this year while Henderson residential values dropped from $33.2 billion to $19.1 billion over the same period.

Las Vegas residential property value, which peaked at $52.2 billion in fiscal 2008, is now at $27.2 billion.

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