Tax Advantages Residents do not pay personal income tax, corporate tax, inheritance tax, estate and/or gift tax, and the property taxes are low. According to Money Magazine, "Nevada has the eighth lowest tax burden as a percent of income in the nation."
The Fiscal Year 2009 City property tax rate for Henderson will remain constant at $.7108 per $100 in assessed valuation. The City has maintained the same property tax rate for the past seventeen years and continues to have one of the lowest rates in the Las Vegas Metropolitan area, as well as the State of Nevada. Nevada has no state income tax. The state sales tax is currently 8.10%.
Property Tax Cap
In the 2005 Legislative session the Nevada State Legislature passed a law to provide property tax relief to all citizens. Assembly Bill 489, signed into law on April 6, 2005, provides a partial abatement of taxes by applying a 3% cap on the increase in the tax bill for the owner's primary residence (single-family house, townhouse, condominium or manufactured home). Only one property may be selected in the State of Nevada as a primary residence. Some rental dwellings that meet the low-income rent limits may also qualify for a 3% cap on the tax bill.
An 8% cap on the increase in the tax bill will be applied to residences that are not owner occupied. The 8% cap will also apply to land, commercial buildings, business personal property, aircraft, etc. New construction or property that has a change of use in the current fiscal year (zoning change or manufactured home conversion) will not qualify for any cap for in the ensuing year, but will receive the 3% or 8% cap starting the following year.