Find Real Estate Agents and Homes for Sale


Real Estate News --> Nevada News

Tax Plan Means Your Nevada Home Is Worth $28K Less: Realtors


NEVADA -- Nevada homeowners could see their property values ... The bill has received backlash from various organizations, including the largest real estate trade association in the U.S. The bill removes the tax deduction for interest paid on home equity ...


Archived Story

NEVADA -- Nevada homeowners could see their property values decline by up to $28,000 if the tax reform plan approved by the Senate is adopted, said the National Association of Realtors last week.The Senate passed its version of the Tax Cuts and Jobs Security Act early Saturday morning by a 41-49 voteThe bill has received backlash from various organizations, including the largest real estate trade association in the U.S.The bill removes the tax deduction for interest paid on home equity debt and increases the standard deduction for all income, ultimately removing incentives for people to buy homes."The tax incentives to own a home are baked into the overall value of homes in every state and territory across the country," said Elizabeth Mendenhall, president of the National Association of Realtors"When those incentives are nullified in the way this bill provides, our estimates show that home values stand to fall by an average of more than 10 percent, and even greater in high-cost areas."Home prices are expected to fall from 8 percent to 12 percent under the tax planThe projected loss in home value would range from $18,620 to $27,950 for the typical Nevada homeowner, according to the National Association of Realtors."While there are some winners in this legislation, millions of middle-class homeowners would see very limited benefits, and many will even see a tax increase," Mendenall said"That's a poor foot to put forward, but this isn't the end of the road."--Photo via Shutterstock   Subscribe   More from Las Vegas PatchUp next on Las Vegas Patch Murder Suspect Caught On Surveillance, Metro Asks For Help Wow! House Is An "Oasis In Vegas" 12 Days Of Deals: Save Big On Kids' Toys & Games ga("send", "event", "taboola", "served", "impression", 1, { "nonInteraction": 1 }); if (mobile_detect.is_phone) { window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-b', container: 'taboola-below-article-thumbnails', placement: 'Mobile Below Article Thumbnails', target_type: 'mix' }); } else { window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-a', container: 'taboola-below-article-thumbnails', placement: 'Below Article Thumbnails', target_type: 'mix' }); } window._taboola = window._taboola || []; _taboola.push({flush: true}); var disqus_shortname = "patchmedia"; var disqus_identifier = "27381925"; var disqus_title = "Tax Plan Means Your Nevada Home Is Worth $28K Less: Realtors"; var disqus_url = "https://patch.com/nevada/lasvegas/tax-plan-means-your-nevada-home-worth-28k-less-realtors"; jQuery(document).ready(function() { jQuery('#show-disqus, .btn-comment-now').on('click', function(event){ jQuery.ajax({ type: "GET", url: "https://patchmedia.disqus.com/embed.js", dataType: "script", cache: true }); jQuery('#comments-guidelines').show(); event.target.id !== 'show-disqus' && jQuery('html, body').animate({ scrollTop: jQuery('#disqus_thread').offset().top - 220 }, 1000); jQuery('#show-disqus').slideUp(); return false; }); location.hash === '#comments' && jQuery('#show-disqus').click(); }); Show Comments Patch Community Guidelines Patch welcomes contributions and comments from our usersWe strive for civil, enlightened discussions on Patch stories and local issuesPlease abide by our posting standards: Be civil No profanity No personal attacks or insults Stay on topic Users who violate our posting rules will have their comments blocked or deletedUsers who flagrantly violate our standards can be banned at the moderator's discretion. × What are Featured Events? Featured Events are paid listings by users and receive priority placement on Patch, on our social pages and in our daily newslettersTo promote your local event on Patch, click here. Feature your event on Patch now Featured Events + Add your event on PatchDec6See More Events Near You > × What are Featured Announcements? Featured Announcements are paid posts promoted by Patch community membersTo promote your local announcement on Patch, create an account and start posting here. Feature your announcement on Patch now Featured Announcements + Add your announcement on Patch Real Estate NearbySelect a Listing TypeNewly ListedOpen HousesForeclosuresRentals 900 Las Vegas Blvd S Unit 1215Las Vegas, Nevada 89101 For Sale: $329,9001 bd/2 full ba, 1,590 sqft More Info 2412 S 15th StLas Vegas, Nevada 89104 For Sale: $185,0005 bd/0 ba, 1,826 sqft More Info 1112 Wyatt AveLas Vegas, Nevada 89106 For Sale: $80,0003 bd/1 full ba, 1,064 sqft More Info 2104 Stockton AveLas Vegas, Nevada 89104 For Sale: $150,0003 bd/2 full ba, 1,508 sqft More Info 2317 Hassett AveLas Vegas, Nevada 89104 For Sale: $169,9004 bd/2 full ba, 1,281 sqft More Info 1367 Calmview PlLas Vegas, Nevada 89110 For Sale: $245,0003 bd/2 full ba, 1,535 sqft More Info 4224 Globe StNorth Las Vegas, Nevada 89032 For Sale: $314,0004 bd/3 full ba, 3,028 sqft More Info 7032 New Moon WayLas Vegas, Nevada 89110 For Sale: $699,0008 bd/6 full ba, 4,749 sqft More Info 3938 Acapulco AveLas Vegas, Nevada 89121 For Sale: $300,0004 bd/2 full ba, 2,583 sqft More Info 6716 Oveja CirLas Vegas, Nevada 89107 For Sale: $209,9004 bd/2 full ba, 1,483 sqft More Info 3908 Herblinda LnNorth Las Vegas, Nevada 89032 Foreclosure: $202,5003 bd/2 full ba, 1,343 sqft More Info 3952 Colonial Field AveNorth Las Vegas, Nevada 89031 Foreclosure: $284,9994 bd/3 full ba, 2,344 sqft More Info 5109 Lytton AveLas Vegas, Nevada 89146 Foreclosure: $160,0003 bd/2 full ba, 1,314 sqft More Info 2920 Galena Peak LnLas Vegas, Nevada 89156 Foreclosure: $175,0003 bd/2 full ba, 1,180 sqft More Info 2915 N Jones BlvdLas Vegas, Nevada 89108 Foreclosure: $420,0006 bd/4 full ba, 7,941 sqft More Info 4429 Lawrence StNorth Las Vegas, Nevada 89081 Rent: $850-$1,1451-3 bd/1-2 full ba, 710-1,100 sqft More Info 3630 E Owens AveLas Vegas, Nevada 89110 Rental 2-3 bd/1-2 full ba, 819-1,032 sqft More Info 6363 Clarice AveLas Vegas, Nevada 89107 Rent: $710-$1,1001-3 bd/1-2 full ba, 624-1,102 sqft More Info 1951 N Jones BlvdLas Vegas, Nevada 89108 Rent: $725-$1,0201-3 bd/1-2 full ba, 700-1,200 sqft More Info 98 S Martin L King BlvdLas Vegas, Nevada 89106 Rent: $519-$7890-3 bd/1-2 full ba, 465-1,050 sqft More Info TopicsArts & Entertainment Bulletin Board Business Community Corner Health & Fitness Home & Garden Jobs Kids & Family Local Deals & Classifieds Local Voices Obituaries Police & Fire Politics & Government Real Estate Schools Seasonal & Holidays Sports Weather Corporate InfoAbout Patch Careers PartnershipsAdvertise on Patch SupportFAQs Contact Patch View All Patches Patch Network Terms of Use Privacy Policy © 2017 Patch MediaAll Rights Reserved. Swipe for more from Patch » × Get free real-time alerts for Las Vegas. Congratulations - you're Patched in! Close Daily Newsletter The latest Las Vegas news delivered to your inbox every morning. Breaking News Alerts Real-time updates on breaking stories in Las Vegas. Subscribe var _sf_endpt=( new Date() ).getTime(); var _sf_async_config = _sf_async_config || {}; /** CONFIGURATION START **/ _sf_async_config.uid = "12406"; _sf_async_config.domain = 'patch.com'; _sf_async_config.useCanonical = true; _sf_async_config.sections = "nevada,lasvegas,Patch 4.1"; _sf_async_config.authors ="Hoa Quách"; _atrk_opts = { atrk_acct:"qKjWj1a0Sn00GK", domain:"patch.com",dynamic: true}; (function() { var as = document.createElement('script'); as.type = 'text/javascript'; as.async = true; as.src = "https://d31qbv1cthcecs.cloudfront.net/atrk.js"; var s = document.getElementsByTagName('script')[0];s.parentNode.insertBefore(as, s); })(); window.fbAsyncInit = function() { FB.init({ appId : '521361477908471', autoLogAppEvents : true, xfbml : true, version : 'v2.10' }); FB.AppEvents.logPageView(); }; (function(d, s, id){ var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) {return;} js = d.createElement(s); js.id = id; js.src = "//connect.facebook.net/en_US/sdk.js"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk')); var disqus_shortname = 'patchmedia';

Trending Nevada News:


  • 4 Under-the-Radar Neighborhoods in Las Vegas
  • Magician’s tricked-out new mansion sets Vegas price record
  • Las Vegas real estate investment firm puts $27M bet on hotel, upgrade in Dallas
  • Q&A with Bruce Hendricks & John Guedry, CEO, COO, Bank of Nevada
  • Right-to-work Nevada a rare bright spot for labor
  • Public Information Sought After Mortgage Fraud Arrest
  • Harry Reid: Trump Barred From Casino Business In Nevada Due To Sordid Record
  • Real estate group sells offices near Las Vegas Strip for $2.75M
  • Technology challenges traditional real estate
  • The Las Vegas Real Estate Bubble
  • Real Estate | Residential For Sale
  • Tahoe real estate picked up steam in 2014
  • Favorite TVs of CES 2017
  • NTSB probes Nevada air race crash that killed nine
  • Seattle Area Commercial Real Estate Finishes Strong in 2016
  • Networking: IREM to hold officer installation dinner Dec. 4 in Reno
  • Will Sandoval’s praise at IKEA’s Las Vegas groundbreaking soar higher than the sky?
  • Nevada County Assessor reports assessed values up 4.8%
  • Real Estate Caveats/Geocaching
  • 3 Legislature seats filled for possible Vegas stadium vote