Tags: Retirement | benefits | retiring | nevada

Benefits of Retiring in Nevada

By    |   Monday, 28 Dec 2015 06:11 PM

People considering retirement in Nevada will experience multiple benefits the state has to offer, from casino fun to stunning landscapes to warm and dry weather.

Here are some of the perks of retiring in Nevada:

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1. Fun lifestyle
The state offers a myriad of recreational activities. Hunting is a favorite pastime of many residents, as is camping, hiking, and skiing in the mountains. Retirees who are more comfortable in a city may prefer the bright lights, stunning shows, and casinos of Las Vegas.

2. Low taxes
Residents of Nevada are not assessed a state income tax. The current state sales tax is 6.85 percent with an additional 1.25 percent assessed by counties; however, prescription medications and consumable grocery items are exempt. Additionally, Social Security income is not taxed, as well as withdrawals from retirement accounts.

3. Affordable housing
Buying a home in Nevada is very affordable and the average price is lower than many other popular retirement states. Zillow reports the median price for a home in Nevada, as of Oct. 21, 2015, is $209,400. The values of homes in Nevada have gone up more than 10 percent over last year and that number is expected to rise an additional 5.5 percent in the next year.

4. Affordable property taxes
The state of Nevada does assess taxes on property; however, the amount of property taxes is not exceptionally high by most standards. The property taxes assessed on an average-priced home in Nevada is $1,423 per year, according to Kiplinger, which ranked Nevada No. 3 in its list of the most tax-friendly places to retire.

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People considering retirement in Nevada will experience multiple benefits the state has to offer, from casino fun to stunning landscapes to warm and dry weather.
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2015-11-28
Monday, 28 Dec 2015 06:11 PM
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