Which Side of Lake Tahoe Has Higher Property Taxes?

Nevada happens to have some of the lowest taxes in the U.S. Every week, Mansion…

Nevada happens to have some of the lowest taxes in the U.S.

Every week, Mansion Global poses a tax question to real estate tax attorneys. Here is this week’s question.

Q. I’m looking at a property purchase in Lake Tahoe. What are the differences in property taxes on each side of the lake?

A. Property taxes on the Nevada side of Lake Tahoe are significantly less expensive than those in California.

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Although each county is different, Nevada as a whole has the fifth lowest property taxes in the U.S., according to ATTOM Data Solutions, a California-based data company. The state’s effective tax rate is 0.58%, and homeowners paid an average of $2,138 in taxes in 2018, according to ATTOM’s most recent report.

There, a property is assessed at “35% of its full cash value,” according to the Douglas County Assessor’s Office. That means that a home worth $2 million has an assessed value of $700,000.

Every week, Mansion Global poses a tax question to real estate tax attorneys. Here is this week’s question.

Q. I’m looking at a property purchase in Lake Tahoe. What are the differences in property taxes on each side of the lake?

A. Property taxes on the Nevada side of Lake Tahoe are significantly less expensive than those in California.

Although each county is different, Nevada as a whole has the fifth lowest property taxes in the U.S., according to ATTOM Data Solutions, a California-based data company. The state’s effective tax rate is 0.58%, and homeowners paid an average of $2,138 in taxes in 2018, according to ATTOM’s most recent report.

There, a property is assessed at “35% of its full cash value,” according to the Douglas County Assessor’s Office. That means that a home worth $2 million has an assessed value of $700,000.

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