A district court judge ruled Tuesday that a measure on Nevada’s November ballot to impose a cap on property tax rates is invalid because of flaws in the signature-gathering process.

The ballot measure would impose a property tax system based on California’s landmark Proposition 13 tax-limitation measure of 1978. The base value of a property would be defined as its taxable value for fiscal 2004, with assessment increases capped at 2% annually thereafter until a property is sold or improved.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.