Nevada
EDITORIAL: A gold star for Nevada’s property tax system
Nevada has one of the lowest property tax rates in the country. That’s an achievement to celebrate, not a problem to fix.
WalletHub recently released a report on property tax rates throughout the country. It found that Nevada’s effective tax rate on property was 0.47 percent. It put the median home price in Nevada at around $435,000. At that 0.47 percent rate, the average annual taxes on a home that price would be just more than $2,000. The only states with lower rates are Hawaii at 0.27 percent and Alabama at 0.38 percent.
Most of Nevada’s neighbors also rank quite well. Arizona comes in fourth. Idaho is seventh, and Utah was ranked 10th. Thanks to California’s Proposition 13 — passed in 1978 to rein in the worst instincts of state politicians — even the Golden State ranks 17th in the country. Oregon ranks 27th.
No one likes paying property taxes, but Nevada’s low rates help families and those on fixed incomes afford their homes. Imagine living in New Jersey. It ranks last with an effective tax rate of 2.11 percent. The median home value in that state is around $455,000. That’s slightly higher than Nevada. But a New Jersey resident with a home of that value can expect to pay more than $9,500 annually in property taxes.
Yes, you read that correctly. A New Jersey resident who owns a median-priced home has to pay the government nearly $10,000 a year. That sounds more like renting from the government than homeownership.
Nevada’s property tax system, however, is subject to regular attacks in the Legislature. Last year, Assembly Democrats overwhelmingly voted for a constitutional amendment to increase property taxes on resold homes. The proposal died after not receiving a vote in the Senate. In 2021, the Nevada Association of Counties proposed a different bill to boost future property tax revenues. It didn’t receive a vote.
It’s true that Nevada’s property tax system is complicated. Determining how much someone pays involves terms such as “taxable value,” “depreciation” and “tax caps.” But the primary motivation of those wishing to change the system doesn’t appear to be simplicity. They clearly want more property tax dollars for governments to spend. Rather than raising taxes, they should promote the construction of more housing, which would drive additional property tax collections.
You don’t have to be able to articulate all the details to realize that Nevada’s property tax system works well. Property owners know there is a limit on how much their taxes can increase. The property tax caps provide government entities a stable source of funding. They even limit how much property tax collections will fall if housing prices drop.
Nevada is on top of a good list. Lawmakers should keep it that way.
Nevada
Nevada Immigrant Coalition rallies in downtown Las Vegas on May Day to demand worker protections
LAS VEGAS (KTNV) — The Nevada Immigrant Coalition held a march and rally in downtown Las Vegas on May Day, joining similar demonstrations across the country to demand better treatment for immigrant families and workers.
The event coincided with First Friday, drawing attention to the economic pressures facing local businesses and workers as costs continue to rise.
Noe’ Orozco, a representative with the Nevada Immigrant Coalition, said the group is focused on elevating people over corporations.
WATCH | Nevada Immigrant Coalition rallies on May Day to demand worker protections
Nevada Immigrant Coalition rallies on May Day to demand worker protections
“We’re trying to put people above corporations, and we one way. You can do that is definitely by supporting the local businesses, because a lot of the local businesses, they, they sustain themselves,” Orozco said.
Many local business owners and workers say they rely on the foot traffic that First Friday generates each month.
“It’s our one night a month that we get walking traffic as if we’re on Fremont Street or on the Strip,” said a business owner at First Friday.
KTNV
Workers also described the financial strain of the current economy.
“It’s very difficult to be living in the economy now without having two jobs,” said another business owner at First Friday.
The coalition said it is also responding to a recent surge in immigration enforcement activity across Nevada, which it says is negatively affecting local families.
KTNV
“Since the start of last year, we’ve seen a lot more of those overlapping conversations happening. And so, as I mentioned, right, highlighting the workers’ rights and a lot of those workers, a lot of workers that we engage with our migrant or immigrant workers, immigrant families, and so regardless of what industry you’re looking at, there is going to be an immigrant household that is being impacted,” Orozco said.
Do you have a story you’d like to share with Shellye? Contact her at Shellye.Leggett@ktnv.com, or by clicking on the banner below.
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
Nevada
5.2 magnitude earthquake in Nevada reportedly felt as far as Sacramento
An early morning earthquake in Nevada on Friday was felt as far west as the Sacramento Valley.
According to the U.S. Geological Survey, the quake struck around 1:17 a.m. about 50 miles east of Carson City. Shaking was reported across the Reno, Carson City and South Lake Tahoe areas.
People also reported feeling shaking along the Sierra Nevada foothills and into the valley, including in Roseville and Sacramento.
No damage has been reported.
The quake had a preliminary magnitude of 5.2. A magnitude 4.3 foreshock appears to have struck about two minutes before the main quake. Several aftershocks have followed, none larger than magnitude 2.7.
Nevada also saw a magnitude 5.7 earthquake centered in the same general area on April 13. Like Friday’s quake, that earthquake was felt in the Sacramento area.
Nevada
Adelson, Davis inducted into Nevada Business Hall of Fame
Dr. Miriam Adelson and Mark Davis, two leaders at the forefront of keeping Las Vegas a world-leading tourist destination, were recognized Thursday with induction into the Nevada Business Hall of Fame.
Adelson, a philanthropist and the top shareholder of her family’s companies, and Davis, owner of the Las Vegas Raiders and the Las Vegas Aces, were honored at a dinner at The Venetian Expo that also celebrated UNLV’s Lee Business School and its transformation into one of the leading cultivators of Nevada business leadership.
Adelson is the top shareholder of Las Vegas Sands Corp., the market leader of the casino industry in the Chinese enclave of Macao and the operator of the iconic Marina Bay Sands resort in Singapore. Sands also built and operated The Venetian and Palazzo and on the Strip before selling the integrated resort earlier this decade.
Adelson’s family also owns the NBA’s Dallas Mavericks, the Las Vegas Review-Journal and the Hebrew-language Israel Hayom newspaper in Israel. She leads the Adelson Family Foundation, the Adelson Clinic for Drug Abuse Treatment and Research and is a medical doctor who once served as the chief internist in an emergency room at Tel Aviv.
Joining Adelson in Thursday’s induction ceremonies was Davis, who moved the Raiders to Las Vegas from Oakland, California, enabling the construction of Allegiant Stadium. He also purchased the WNBA’s Las Vegas Aces, who’ve won the league championship three times in the past four years.
Bringing the NFL
to Las Vegas
Davis began his efforts to relocate the Raiders from Oakland to Las Vegas in 2016 and worked with Adelson’s husband, the late Sheldon Adelson, to secure hotel room-tax funding for Allegiant Stadium. Although the Adelsons and Davis ultimately ended their stadium partnership, the team completed the project and began playing in Las Vegas in 2020.
In introductory remarks, former Las Vegas Mayor Jan Jones Blackhurst, interim vice president of philanthropy and alumni engagement and interim president of the UNLV Foundation, noted that while many didn’t see building a stadium as a wise investment for the state, Allegiant Stadium has become the leading large venue for sports and concerts.
Olympic gold medalist Jennifer Azzi, president of the IXs Foundation, applauded Davis as one of the leading advocates for women’s sports. She said Davis was insistent on paying women higher salaries.
“I’m honored, yet humbled to be inducted into the Hall of Fame,” Davis said.
In his presentation, Davis thanked Nevadans who helped the Raiders relocate to Las Vegas: the Adelsons, former Wynn Resorts executive Steve Wynn; MGM Resorts International CEO Bill Hornbuckle and his predecessor, Jim Murren; former Las Vegas Mayors Oscar and Carolyn Goodman; former Govs. Steve Sisolak and Brian Sandoval and current Gov. Joe Lombardo.
Rethinking business travel
Adelson recalled how she and her late husband saw Las Vegas as more than just a city for gambling, but as an ideal destination for conventions and trade shows.
She paid tribute to Sheldon Adelson, who founded Las Vegas Sands, and his vision of building integrated resorts that catered to business travelers as well as tourists. And she credited her background in medicine for helping her find her voice.
Adelson shared that as a host for conventioneers, they made sure there were plenty of outlets for electronic devices in every hotel suite, which set The Venetian apart from other resorts.
She urged UNLV students in attendance to follow the advice of her late husband — who learned business “on the streets” and not in college — and learn all they could about marketing and finance.
The Adelsons and Davis were instrumental in jump-starting sports tourism in Southern Nevada, widely recognized as a key means for bringing millions of visitors to the city to attend games and mega-events, resulting in billions of dollars in economic impact.
Additional honorees
Sponsored by UNLV’s Lee Business School, the Nevada Business Hall of Fame celebrates outstanding individuals who have shaped Nevada’s economic landscape and enriched its communities. Organizers say each inductee embodies the essence of Nevada’s entrepreneurial spirit, demonstrating innovation, resilience, unwavering dedication and an impact that resonates beyond their industries.
Two others were recognized for their business achievements at the event, attended by more than 400 people.
The Lieder Award, which recognizes exceptional leadership, entrepreneurship and contributions to real estate development, was presented to Alan Molasky, chairman of Ovation Development Corp.
In addition, Rick Crawford, the founder and president of the 50-store Green Valley Grocery chain of convenience stores, was honored with Entrepreneur of the Year.
More than 5,000 students attend the Lee Business School, which is accredited by the Association to Advance Collegiate Schools of Business.
Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on X.
-
Wyoming3 minutes agoWyoming Downs, 307 Horse Racing invest $180M in new facilities in Laramie, Uinta counties
-
Crypto9 minutes agoWhale Pulls 1,051 BTC Worth $82.35M From Binance in Single Transaction
-
Finance14 minutes agoFinance tips for when you’re caring for aging family members
-
Fitness21 minutes agoI’m a Pilates instructor – planks are great, but this roll-up exercise improves core strength and control more efficiently
-
Movie Reviews33 minutes ago1986 Movie Reviews – Blue City, Jo Jo Dancer, No Retreat No Surrender, and Saving Grace | The Nerdy
-
World45 minutes agoWhere to Watch Naoya Inoue vs. Junto Nakatani Boxing Live Online
-
News51 minutes agoTrump’s Vision for D.C. ‘Garden of Heroes’ Statues Grows in Size and Cost
-
Politics57 minutes agoSpirit Airlines Shuts Down After Years of Struggle