The Promise of TRIC; Tax Rollback Announced.

From the December 2014 Storey County Commissioner Meeting came this proclimation:

23.
DISCUSSION/POSSIBLE ACTION: 
Request staff to research implementing the first 
in a series of residential property tax roll backs given 
the economic prosperity on the horizon. Vice Chair Gilman 
reported on economic results coming to the County from 
TRI and the Tesla transaction. Mr. Gilman described the Tesla 
facility which will be the largest facility of its kind in the U.S. 
Construction is underway with permits and fees being paid to 
the County. Over $300 million in payroll will be added to the 
economy every year. As a direct result of Tesla, many other 
companies are moving into Storey County and TRI. 

Mr. Gilman discussed the direct benefits to residents. 
There is an immediate prospect of over 20,000 jobs added 
to this region. There will be increases in property values, 
as already seen in Lockwood. Once the abatement period 
is over, there will be a massive infusion of taxes into operating school 
budgets. The State of Nevada is taking over maintenance of USA 
Parkway and will built the extension – this will no longer be the 
County’s responsibility resulting in millions of dollars in savings 
to the County over the next decade. 

Mr. Gilman believes it is time to establish a plan 
for all residents of Storey County to share in the financial success of 
TRI and the Tesla transaction. 

Vice Chair Gilman is requesting County staff to prep are a plan 
specifying an amount of reduction in property tax rates that the 
County can afford, a time frame for the reduction, and any other 
reduction  for fees and assessments that occur on an annual/routine
basis that would be feasible. It is requested that a staff report with 
a proposed plan be delivered within 60 days, with a target 
date of the first Commission meeting in February. 

Dave Thomas, Storey County Resident:

Questioned the wording of “residential” in the proposed 
action. 
County Manager Pat Whitten apologized for the wording. 
The Board of Equalization, as Mr. Whitten understands, 
requires that the tax rate is not differential for residential as 
opposed to commercial and/or industrial. Everyone will benefit.
 
Commissioner Elect, Jack McGuffey:
Applauds Mr. Gilman. Years ago, this was one of the 
promises from TRI. 

Motion: Request staff to research implementing the first 
in a series of county wide property tax roll backs and to 
provide a staff report within 60 days, 
Action: Approve 
Moved by Commission Sjovangen 
Seconded by Vice-Chairman Gilman 
Vote: Motion carried by unanimous vote summary: (Yes=3)

This was from November 2014. Revenue continues to fall short. The silence of the money gusher is deafening. And no rollbacks.