Anyone from Nevada?

[modhatter]

Wondered how high real estate taxes were in Nevada with no state income tax.. Anyone living there now or planning on retireing there?

I know property values have sky rocketed there. I wonder if they have come down very much?

 

[Orchidflower]

You can get a rough idea of property tax rates at bestplaces.net and click on subcategory housing. You can also can compare two cities on this site for everything from housing to crime rates.

Orchidflower

 

[peggy]

Remember there's a big difference between Clark County and the other sixteen counties in the state.

Clark County (Las Vegas, Henderson, Mesquite, Laughlin -- and some bleedover into Pahrump, which is actually in Nye County) has seen the prices and such skyrocket. The rest of the state, not so much.

The actual property tax increases for the 2007-2008 tax year are capped at 3% or 8% or twice the CPI (whichever is greater) of the prior year's tax bill for most properties.

The assessed value of my home went up 10% -- but there's the cap on the taxes themselves, not the assessed values.

Of course, we're hitting our Tax Freedom Day something like fifth or sixth from last this year, so that's not exactly a ringing endorsement.

 

[modhatter]

Are you able to give me any figures on a house say valued at $250,000 in terms of yearly taxes?` I'll check that web site out, but I don't think they give any tax specifics.

 

[honobob]

Wondered how high real estate taxes were in Nevada with no state income tax.. Anyone living there now or planning on retireing there?

I know property values have sky rocketed there. I wonder if they have come down very much?

Bought in 1994 3/2 1500+sf new for just over $100K now worth just over $300K. Values are holding in established neighborhoods.

Taxes are about $1750 a year. They recently passed a Prop 13 type law that caps owner occupied at 3% and everything else at 8%.

 

[Tom57]

Here is my info from Northern Nevada - Reno/Sparks area. Bought new 2,000 sq ft 4 bedroom in 1999 for $172,000, current market value about $375K, down from about $435K in early 2006. Property taxes in 2006 were $2,183.

The home builders are still building new homes but the demand has slipped a lot. The builders are now quoting a 90 day delivery, while in the good old days of 2005, there were 6 to 9 month waiting lists.
The main reason for the demand and price increase/decrease is Northern California immigrants, like myself in 1999.

 

[Yipee-Ki-O]

The tax on my townhouse in Henderson NV (Clark County) was $1306.80 for the 2006-07 tax year based on an assessed Tax Value of $214,934. As others have mentioned, there are caps in place on future increases.