Property taxes do NOT reassess on the sale?

[Jake Andronico]

Nope! In Nevada, property taxes DO NOT reassess on the sale.  

There are older properties in Reno and in Northern Nevada (1940's-1960's) with ANNUAL property taxes less than $1,000...

This is a big difference from other markets that surprises people when we tell them this (especially coming from CA). 

Property taxes have been a big topic of conversation, and I'm curious - what's it like in your state? 

[Allan C.]

@Jake Andronico states with different revenue streams have different tax structures. As an investor it’s helpful to understand what tax structures are indexed to property ownership vs other vehicles like sales tax, corporate taxes, mineral royalties, etc.

Having lower property taxes does not mean it’s more profitable to invest in that location. Markets are efficient and investors/buyers/sellers will just find a different way to reach their transaction hurdles.

For example, you may get more investors in your area due to lower taxes, by which increased investor demand will drive up prices. At the end of the day supply vs demand is the more important factor to consider.