Las Vegas Real Estate Info

The Las Vegas Business Press is reporting that higher prices have local homebuilders looking at places like Pahrump, Mesquite and Coyote Springs as the next bedroom communities to Las Vegas. Vacant property values now average about $800,000 per acre and higher in the Vegas area, and building costs have increased 14 percent or more during the last year alone.

Homebuilders subsequently are giving rural communities outside the valley more serious consideration. The land is still cheap and plentiful. Local officials are welcoming. Permitting is faster. And there are fewer water restrictions.

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Pahrump Valley Times is reporting that a national anti-tax group said it will donate $10,000 to jump-start the campaign in Nevada backing a property tax initiative modeled after California’s landmark tax rollback Proposition 13. The money is intended to boost the campaign’s signature gathering efforts and combat misinformation about the Angle Property Tax Restraint Initiative.

The proposal would freeze the tax rate for residential and commercial property at 1 percent of the assessed value based on the 2003-04 fiscal year. Tax rates could increase each year by 2 percent, or the rate of the consumer price index, whichever is lower. A similar measure was enacted in California in 1978 following a tax revolt led by Howard Jarvis.

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