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Las Vegas Real Estate Blog

Your Las Vegas real estate information source. The latest news, new construction, scandals, additions to the strip and other Las Vegas and related information.

Tuesday, September 20, 2005

Property Taxes

Looks like our property taxes may finally be going up. The legislature has been discussing it for the last few sessions. Most areas of Clark county haven't seen an increase in over a decade at least. The current idea is a modest 3% with a permanent cap placed after you hit the top end (or at least until they decide they need more property tax money). Compared to other areas of the country, our property taxes are very minimal. My current residence is $1,200 a year. There is a place in Texas that in a certain school district the property taxes are $700 per month! How people can afford that is beyond me. Even with the amount of new schools being constructed, property taxes haven't gone up.

Gas prices have went down a little. The least expensive place I've seen so far is Costco with a price of $2.69 a gallon. You can get the latest prices at Vegasgasprices.com. According to the Washington post, the drop in gas prices may be short lived. Even though most of the refineries hit by Katrina are back on line, the pipeline carrying gas back east are not. Prices for crude oil are creeping back up, just in time for Christmas. But I've been staying at home anyway. I put up a page about the new Lake Las Vegas development, Prima. Its being developed by Amland homes with the usual amenities. Hotel giant Starwood has announced a new resort, named "W". Definitely not my choice for an impressive name for a property---but then again I'm sure that will change. The "W" will also have condo-hotel units for sale. Details are forthcoming. Construction is nearing completion on the Metropolis, located on Desert Inn and the strip. The Metropolis was the first loft project in Las Vegas. Should be interesting to see what resale activity is once its been completed.

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