Common Questions on Las Vegas Real Estate
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What are property taxes? Property taxes run approximately 1% annually of the latest sales price or Clark County assessor's market value whichever is most current.
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Will property taxes go up when I purchase my home? Property taxes will be assessed on the new sales price.
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How much are state income taxes? There are no state income taxes in Nevada.
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How much does homeowner's insurance run? Homeowner's insurance runs approximately .028% annually of the sales price.
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Where are the best schools? The latest test scores are available from the Clark County School District and you can visit their web site at http://ccsd.net/
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How much do homeowner's associations run? There is a huge variety in fees for homeowner's associations (depending on the level of amenities offered pool, spa, clubhouse, etc., and utilities paid on behalf of the owners) and the age of the complex as more mature properties tend to have higher maintenance costs. Condos and town homes can run anywhere between $50 to $200 per month. Gated communities can also run between $50 per month for a simple gate to $250 per month for a guard gated country club neighborhood.
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How much are utilities? Much depends on the individual's personal habits so there is no set answer to this question. Please visit the utility company web sites to see their rates. Nevada Power is at: www.nevadapower.com Southwest Gas is at: www.swgas.com and Las Vegas Valley Water is at: www.lvvwd.com
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How hot does it get in summer? How cold in winter? Summertime temperatures may reach as much as 115 degrees, but most of the summer it remains about 100 to 105. (And yes, it is a dry heat! We play golf all summer long here.) In winter coldest night time temperatures may drop to the 40s occasionally (every once in a while into the 30s as well) but most of the time remain in the 50s.
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Where are the best areas? As Realtors® we are not allowed to designate neighborhoods as "better" or more desirable. Instead we can only give you information on where to find maps with the latest appreciation figures Las Vegas Home Appreciation Map and neighborhoods Las Vegas Neighborhood Map or direct you to the Clark County School district for test scores.
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How much is motor vehicle registration? Motor vehicle registration is not a set fee, it is based on the value of the vehicle. Go to: http://www.nevadadmv.state.nv.us/faqs.htm#cost for full details on valuation.
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How much is the deposit on a new home? That varies by development, but generally speaking it is usually between $2,000 to $5,000 on regular residential property and between $10,000 and $20,000 on high rise condos.
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