Meeting: Budget Committee

Meeting Time: February 14, 2024 at 3:00pm PST
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Agenda Item

5.A) Discussion and consideration to make a recommendation to the Board of County Commissioners to allocate a portion of Elko County's ad valorem (property) tax revenue for Fiscal Year 2025 (July 1, 2024 to June 30, 2025) to the School District Capital Fund as required by AB519(2023).   AB519(2023) requires Elko County to levy an ad valorem (property) tax rate between 1 and 25 cents and deposit the revenue to the School District Capital Fund.  AB519 also allows (but does not require) the County to levy a property tax rate of up to 25 cents above the current tax cap of $3.64 per $100 of assessed valuation.    Elko County Commissioners took action determining there would not be an increase to the current Elko County ad valorem (property) tax rate to fund school district capital projects on February 7, 2024.