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Elko County finance director: preliminary state projections show lower revenues for FY26
Summary
Finance staff told the Budget Committee that preliminary state projections show assessed valuation and consolidated tax receipts down for FY26, leaving the county planning conservatively and awaiting pro forma numbers before finalizing the budget.
Susan, the county finance lead, told the Budget Committee that the county has received preliminary revenue projections from the state showing weaker receipts for fiscal year 2026. "Revenues were tracking approximately 4 to 6% lower than the prior year," she said, and cautioned the committee that the numbers are preliminary and will be refined when the final projections and pro forma arrive.
The committee discussed drivers behind the decline, including lower reported net proceeds from mining and changes in replacement-cost indices that affect assessed value. Janet Dearborn from the assessor's office said some large property valuations have edged down; she cited casino examples: "the replacement cost to rebuild 1 of the casinos in Wendover last year was 22,000,000, and this year, it's 21,000,000." Susan said the county will continue budgeting conservatively and expects to present a tentative budget at base levels while awaiting the pro forma and audit reconciliations.
