In Nevada, the property-tax increase for one’s primary residence is a maximum of 3 percent, and the increase for other properties, including land and commercial buildings, is a max of 8 percent.
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Home prices are still logging huge year-over-year gains, making it all the more expensive to buy a place as people also face higher costs for gas and other daily goods.
The luxury house in The Summit Club, a wealthy enclave in Summerlin, features a “secluded private apartment.”
Southern Nevada’s housing market is no stranger to volatility — and lately, it seems the industry is on anything but even ground.
Buyers are pulling back in Southern Nevada and other metro areas amid sharply higher borrowing costs.
It was the latest high-priced deal in Las Vegas that did not produce transfer tax revenue that supports schools and low-income housing in Nevada.
“We could be facing years, not months, of fewer home sales,” the CEO of Redfin said.
America’s casino capital “used to be an affordable alternative to California,” but rising prices and a hot market have made it “less attractive” for new buyers, report says.
Blue Heron held a ceremonial groundbreaking for Shoreline, an 83-lot housing tract at Lake Las Vegas in Henderson.
Lily Funds founder Tom McManus sold 2 acres to a buyer who “requested to remain anonymous.”