RENO, Nev. (MyNews4.com & KRNV) -- Taxes make up over half of Reno’s revenue, and City Manager Andrew Clinger said consolidated taxes are up from last year.
At Wednesday's State of the City address, Clinger projected $170 million in city revenue for the fiscal year.
This is still $10 million less than the $180 million made in 2008. "House sales go up and property taxes go up, it will all come back," said Mayor Bob Cashell. "It will be a little slower than it has been in the past because for a while we were the only gaming market in the world."
Cashell said attracting tech companies to Reno should be a top priority going forward, because he says they give the city the best change to bring the local economy back to 2008 numbers. "Having Amazon come over into Reno from out of Fernley is really good. It’s going to make our economy more established."
Clinger said employee retiree benefits need more attention. Right now, they cost the city $210 million and nothing is being put aside for long-term payments. "We have to begin to prefund that. As the economy grows, those are some of the issues that we have to begin setting money aside for."
The city also faces a $500 million bond debt.
Regardless, Clinger said the city is doing more with less as 500 city employees have been cut since 2009. "I think our police and fire departments have adapted very well in the way that we have delivered services."