Nevada has no state income tax. You probably knew that already. But did you know the state’s property tax is quite low too?
Clocking in at .75%, among the bottom third lowest in the US. No income tax and low property tax makes Nevada already a winner in my eyes.
Secondly, the median property value in Nevada is less than $200k, so we’re talking a low tax rate on a lower-valued home. That’s a double winner.
So, they must kill you on sales tax, right?
Well, Nevada isn’t cheap on sales tax. But if you look beyond just the state tax number and actually add the county and local tax burden Nevada is not even in the top 10 highest sales tax states. It is in the top 20, mind you, but given it’s low property tax and no income tax, that’s a trade-off one could easily make.
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