[ksc72]

Is it true that foreign investors have to pay 3 times the property taxes compared local home owners? Is is also true that the taxes on the foreign investors can be raised by as much as 8% per year?

Thanks.

[dynimagelv]

I hope so

[ScoopLV]

Property taxes in most places in the United States work like this:

The local community sets an assessment value percentage, and then assigns a tax rate based on that assessment. By using those two numbers, you get the tax rate on the property. In Las Vegas it basically works out to 1% of the homes value. It is the same for everyone -- local, out-of-state or foreign homeowners. We're not Mexico.

Local homeowners get a homestead exemption on their primary residence -- money taken off the tax -- compensation for all the money they spend living their lives in the communtiy. It doesn't work out to 1/3rd, but it is a good-sized amount for the average American family. If a local buys additional investment property, they can't homestead it -- we can only homestead ONE house, so we usually make sure it's the most expensive one. Americans can also deduct their property taxes from their federal income tax, another good deduction.

So, it's not that you're being assessed three times more, it's just that you can't take advantage of the homestead tax exemption and the income tax deduction.

As for tax increases, I don't have a crystal ball.

[irishspy]

I believe residential homes (your own residence) is capped at 3%. Rentals and etc is at 8%. Someone correct me if I am incorrect Please. I believe this information is on the Clark County web site which I do not have the URL. If someone does please post it for this question. Thanks.

[eventusstultorummagister]

Originally Posted by dynimagelv

I hope so

Ditto