FACT BRIEFDoes Nevada have nearly $30 billion in total government debt?
YES
In 2021, Nevada had state debt totaling $3.59 billion and local government debt of $25.35 billion, equaling $28.94 billion.
Distributed equally among Nevada's population, that's $9,205 per resident — below average among states. New York had the highest per capita government debt at $18,411, and Wyoming the lowest at $3,437.
Rating agency S&P Global gave its second highest rating, "AA+/stable," to the bonds of the State of Nevada and Clark County. The agency considers Nevada's financial management practices "good but not comprehensive."
The Nevada Constitution limits state borrowing and requires an annual balanced budget and a two-thirds vote of the Legislature for tax increases. In 2022, the state projected to add $387 million to its Rainy Day Fund, and Gov. Joe Lombardo has proposed adding $630 million more.
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Sources
Statista Nevada: state and local government debt FY 2027
Census Bureau Quick Facts: Nevada
Governing State and Local Governments With the Most Debt Per Capita
S&P Global Nevada; Appropriations; General Obligation
S&P Global Guide to Credit Rating Essentials
Clark County Debt Management Policy
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