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Nevada and Real Property Transfer Tax

By Mary Warren

Services for Real Estate Pros

June 22, 2007 12:16 PM

The Real Property Transfer Tax is a tax collected when a home is sold in the state of Nevada. The County Recorder collects it at the time of recording and is part of the seller's closing costs. In Clark County NV (Las Vegas, Henderson, etc) the rate is $5.10 per $1000 of value. This is approximately 1/2 % of the sale price of a home. If a typical home sells for $250,000 the transfer tax would then be $1300. This cost is typically a seller cost but can be negotiated.

The basis for the tax is the actual selling price or the estimated market value of the property.

Who is Affected: All parties who participate in transactions involving the transfer of real property. All of Nevada pays this tax...it varies as to the amount from county to county.

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Marchel Peterson

Results Realty - Spring, TX

Spring TX Real Estate E-Pro

Mary: I don't understand this tax, what is the reason for it? Do you negotiate who pays for it?

Jun 22, 2007 02:47 PM

Mary Warren

Las Vegas, NV

Hi Marchel...It is a tax imposed by the state of NV. It can be negotiated but it's a normal cost to the seller. It's just one more way for the government to get their hands into the pocket of the little guy :)

Jun 22, 2007 03:08 PM

Anonymous

Randy Slovacek

I was wondering. If I use a Quit Claim form to add someone to title on property I own, do I have to pay transfer tax is the document reads "in consideration of Ten Dollars ($10.00)? I see there is a space near the top of the form for Property Transfer Tax, but since the amount is so low, would I need to pay anything?

Thanks in advance,

randyslovacek@mac.com

Jul 27, 2007 07:09 AM

Randy...I have sent you a reply via e-mail but am posting this here for information for everyone else who might read this and have the same question:

Per the Title Company..."if you add someone to title you will have to pay transfer tax unless that person is your child or husband. The county will calculate the transfer tax on the assessed value of the property. Not the $10.00."

I assume 'husband' means spouse.

Jul 27, 2007 08:54 AM

Robert Barrington

If I quit claim a property to an LLC, wholly owned by myself would I still have to pay the transfer tax?

Sep 15, 2009 10:40 PM

Nevada and Real Property Transfer Tax

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