Dear Pahrump Community at Large,
I have been following the debate about water for quite some time. I am not a water expert, so I am not going to express an opinion of something I am not well versed in. However, I am well versed in Real Estate and Economics. I have run my own investment company since 1988, which I started from scratch. My education is in Real Estate and studied Law in Graduate School. I also have been involved in the Pahrump community since 1995. I have participated as a member in the community in the creation of the Master Plan and as a member of the Land Use Committee.
Water is an important issue and should not be taken lightly. However, the solutions to the issues involve collaboration and reasonability. There are many issues to consider, when considering water. If Pahrump is to survive as a community, I would implore all parties to examine the facts carefully. Sometimes, actions are taken without the full consideration of all the effects that those actions have on other equally, if not, more important issues.
This is what will happen if any Moratoriums or Unreasonable Restrictions are put in place in the Pahrump Valley:
1. Most of the Pahrump Valley are vacant lots and land. These lots and land will have the value go to almost 0 (Zero). The reason for this is they will no longer be able to be utilized for the purposes intended. If they cannot generate income or be put to beneficial use there is no value. All you have is a bunch of useless dirt. The owners of these lots and land will then be entitled to a reduction of the assessed value of the land and a reduction of almost all the taxes that are paid on these properties. This is the law. This is factual. This is verifiable. Many people will simply withdraw and not pay taxes at all. This will lead to the treasurer taking the property and putting up for auction. Who is going to buy a property that can never be used and be willing to pay taxes on it? Our Government is funded with taxes. Without taxes, Government does not run. In addition to a reduction in value of unimproved property, improved property will decline in value and lead to a further reduction in property tax collections, which are already lower than at the top of the market a few years ago.
If there is a reduction in property taxes on these no longer usable parcels and improved parcels that have lost value, most of the tax revenues in Pahrump will no longer be available to fund public services, schools, fire dept., sheriff, library, senior services etc. The quality of life in Pahrump as we know it will disappear. Real Estate values of improved properties, including but not limited to Homes, Industrial and Commercial properties will sink.
If anyone thinks our recession was bad from 2007 to 2013, this will make it look like a joke when the citizens of the community see their property values drop. Banks will not want to take a chance on a town that has no upside and lots of downside. There will be no growth and in fact there will be regression. Businesses that invested in Pahrump because of the probability that growth would increase, will pack up and close their businesses. This includes casinos, restaurants, banks etc. Once this happens there will be no turning back. It will be too late. Pahrump will turn into the next Ghost Town. If citizens want to go back to the Stone Age, this is a good way to do it.
The above scenarios are real and certainly can be verified by outside experts. I implore all parties to find reasonable solutions that satisfy the needs of all parties. I have observed a lack of action for a long time now with regards to these issues. There is lots of motion and no action. I challenge anyone with common sense to refute what I have stated. I hope common sense will prevail and egos will be left behind. I sense from what I have seen that some people have an agenda, which is to destroy all that is good with the Town of Pahrump for their own selfish reasons. I personally prefer people that create opportunities and at the same time benefit the community. The interaction between the community and people investing in the community should always be collaborative, as it is truly a symbiotic relationship.