Lake Tahoe, NV

Value of Ownership

Benefits that go beyond recreation.

When it comes to living along Lake Tahoe or owning a vacation home here, you can choose the California side or the Nevada side. Each side has its strong points, but there's a financial component to this decision that many people neglect to consider: taxes.

It's no secret that California residents pay some of our nation's highest taxes—the state is No. 6 in the most recent Tax Foundation listing of state tax burdens (the higher the rank, the higher the burden).

Nevada, meanwhile, ranked No. 43 on that same list, largely because there is no personal income tax in the state, no estate tax, and real-estate taxes are lower than many other areas as well.

Does that make Sierra Colina even more attractive? We certainly think so.

Of course, we are not tax professionals, and cannot offer you tax advice. We recommend that you consult with your accountant or other tax professional before making a purchase decision. For additional information, read: Advantages of Your Nevada Residence.

From the Blog

New federal tax law prompts many to look at low-tax states

New tax laws often require new strategies—and many people in high-tax states, such as California, New York, Connecticut, and others, are considering relocation after the massive changes that began in the 2018 tax year.

Those changes include a reduction in the amount of mortgage interest that can be deducted, the removal of certain itemized deductions, and the elimination of deductions for state and local taxes, all of which are having a significant impact on some households.

"It will soon impact the real-estate markets in [high-tax states] as people realize that their expensive homes are now a whole lot less affordable than they have been," one CPA told Financial Advisor magazine in February.

Read the full article →

Nevada—an attractive option