Nevada Real Estate Transfer Taxes: An In-Depth Guide (2024 Update)

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By Jon Stubbs Updated March 19, 2024

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Who pays transfer taxes? | When are transfer taxes paid? | Methodology

Nevada's current transfer tax rate is $1.95 per $500. So, for a house worth $426,267 — the median home price in the state — the transfer tax due will be $1,662. Other counties may tack on additional transfer taxes.

The specifics on who pays the transfer tax in Nevada are sometimes up for negotiation, but usually the seller is responsible.

Clever Real Estate can help you cut costs here — our concierge team will partner you with an experienced agent who can help you negotiate a good deal with your buyer on transfer taxes. You'll save big by paying only 1.5% in commission, which is much less than the Nevada average of 2.90%.

💰 Find an agent who can negotiate your transfer taxes

You can't change transfer tax rates. But, an experienced Clever Real Estate agent can help you win the negotiation battle so you aren't stuck paying all of the transfer taxes on your own.

When you choose Clever, you'll work with a full-service realtor with transfer tax expertise in your local market.

Clever's service is totally free, with zero obligation — you can walk away at any time.

What Are Real Estate Transfer Taxes?

Real estate transfer taxes are applied to a sale where real property changes hands. They help a city, state, or county cover the paperwork and other costs associated with the sale. The real estate transfer tax is expressed as a percentage of the total final selling price or the home's assessed value.

Real estate transfer taxes are separate from recording fees, mortgage fees, or title fees. You'll see them on a different line item on your closing documents.

Because these taxes vary between states, and on a regional and local level, it's important that buyers and sellers work with an experienced local real estate agent to ensure they understand this process completely before selling or purchasing a property.

Who pays transfer taxes in Nevada: The buyer or the seller?

Who pays the tax in Nevada is negotiable, though it's typically paid by the seller. Some new builders and housing developments refuse to pay it and make it the buyer's responsibility.

When do you pay transfer taxes in Nevada?

Transfer taxes are paid at closing.

You don't have to pay the fee directly out of your own pocket. Instead the cost is included in the closing costs, which are rolled into your total mortgage. Your real estate agent should be able to answer any questions about the tax, and they also may suggest using it during negotiations to trade off for something you'd rather the buyer pay.

How Much Are Transfer Taxes in Nevada?

Nevada's transfer tax is $1.95 per $500 of value over $100. Some counties in Nevada, such as Washoe and Churchill, add $0.10 to the rate. Clark County adds $0.60. The tax is collected by the county recorder.

In practical terms, if you buy a home for $200,000, your real estate transfer taxes will only be $780. While this isn't a huge amount of money when compared to a home's overall price, you should still weigh the difference in what you'll pay when deciding between houses or between selling prices.

There are exemptions to the real property transfer tax in Nevada. If the property is being transferred from a direct blood relative to another, there is no tax charged. The same applies if it's being transferred from a joint tenant to another joint tenant. A transfer in divorce or death is also not taxed.

In Nevada, either party or both involved in a home sale can pay the tax. Who pays often depends on if it's a buyer or seller's market, so this could be an item that your realtor can negotiate for you.

Can You Deduct Transfer Taxes?

Transfer taxes aren't deductible as a line item on your federal tax return. They can, however, be used to offset any gain on sale.

Capital gains are charged on the difference between what you paid for an asset and what you sell it for, i.e., your profit. Any profit on a home sale over $250,000 for a single person and $500,000 for a family is subject to capital gains.

You can offset this gain by including transfer taxes in the cost basis of your property. If you're the seller, add it to what you paid for the property originally. If you're the buyer, just remember to add them to your cost when you eventually sell.

Other Considerations

A real estate transaction is subject to many fees and taxes that you may not be familiar with before entering the housing market. Who pays for what, and when, can impact the value you get when buying a new home or your profit when selling.

The real estate transfer tax can be added to your total mortgage when buying, or subtracted from your profit when selling. It will appear on your final HUD-1 form. It's just one of many line items on the form that may not make much sense to you.

Clever can partner you with a local real estate agent who knows how to deal with the state’s tax and helps negotiate a deal in your favor. What’s more, our agents charge only a 1.5% listing fee compared to the state average of 2.90%! The money you'll save can more than offset the cost of the transfer taxes.

» SAVE: Learn more about how a Clever agent can help you navigate Nevada transfer taxes

Methodology

  • Transfer tax amounts are based on government website information as of February 2024.
  • We gathered our listing commission rate data from a December 2023 survey of 630 of our partner agents.
  • Home values, list prices, and sale prices are based on Zillow data as of January 2024.

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