City Of North Las Vegas Values

Last week in the news we heard of the possibility that the City of North Las Vegas, Nevada may be taken over by the State of Nevada.

See articles:

http://www.lasvegassun.com/news/2011/jul/21/north-las-vegas-mayor/

http://www.lasvegassun.com/news/2011/jul/12/north-las-vegas-finances/

In the first article: “Mayor Shari Buck stresses that North Las Vegas is not at risk of being taken over by the state, but she admits the city will have a difficult time figuring out its finances for the next two years.”

In the second article:
“But a city doesn’t reach the brink of insolvency because of one hardheaded union, or even two. Recent and past moves by city officials, the unions and residents have led to this fix. North Las Vegas, once among nation’s fastest-growing cities, has seen steep declines in tax revenue during the recession, while its operating costs have risen to pay for big projects planned in anticipation of continued growth” The article continues with the poor planning on the city councils part.

Personally, it’s time for some hard core decision making….Voters. Instead of voting in politicians that have NO experience in running businesses much less know and understand how a budget works or even know what that word means. Vote in solid business owners and entrepreneurs that have a proven track record of how to stay within budget and grow businesses.

Hearing this news, I have to wonder what will this do to the already low property values in the city. The state of Nevada is in no financial condition to take over more financial responsibility.