SB 68 is being heard Tuesday, March 7, at 1 p.m. in the Senate Committee on Revenue and Economic Development. We need you! SB 68 would increase the Real Property Transfer Tax (RPTT) by $0.40 per $1,000. This bill would use the new revenue to create a fund to be used for certain purposes relating to very low-income housing, supportive housing, and supportive services.
We need members to appear either in Carson City, or in Las Vegas to voice your opposition and concern for the proposal. You also may phone in your opposition.
Nevada REALTORS® opposes this measure for several reasons:
The RPTT is a sales tax on the purchase of a home.
It is regressive as it hits those who can least afford it the hardest.
Any increase in the RPTT has a direct and immediate impact on the ability of first-time homebuyers, and growing families who are attempting to purchase a home.
The tax MUST be paid IN CASH at time of closing and cannot be financed into a mortgage.
The tax also puts a huge burden on those who can least afford it.
The proponents will argue that the increase is minimal, but for a homebuyer in Clark County, the proposal would increase the tax to $5.50 per $1,000, which is the highest in the state. When state and local policymakers are attempting to create more affordable housing options, this measure will simply put housing further out of reach to those who need it the most.
We need you to participate in the hearing. The hearing in Carson City is in Room 2149 of the Nevada Legislative Building or you may participate in person in Las Vegas at the Grant Sayer Building in Room 4412. The Legislature now permits the general public to phone in their testimony. However, time is limited, and you may or may not be able to register your opposition.
Again, it is IMPERATIVE that you voice your OPPOSITION and your concerns with SB 68.
When: Tuesday, March 7, 2023 - 1:00 pm
In Front of: Senate Revenue and Economic Development Committee
Where: Nevada State Legislature
401 S Carson Street
Room 2149
Carson City, NV
Video-conferenced to:
Grant Sawyer Building
555 E Washington Street
Room 4412
Las Vegas, NV
By Telephone: Call (888) 475-4499, when prompted, provide Meeting ID: 81171684938, and then press #. When prompted for a Participant ID, press # and follow the instructions.
NAR’s signature 2023 ‘Ride With The Brand” event series will kick off the conference festivities on Monday evening (4/10). The event is FREE to all conference attendees AND to all REALTORS® who register for the Monday Night reception!! conference and The first 200 at the door will receive free Riding With the Brand swag. The event will have a corn hole tournament, games, photo ops, REALTOR® Brand information, and giveaways! There will also be appetizers and a drink ticket! Come meet NAR President Kenny Parcell, and your state and local REALTOR® leadership.
That’s not all. NVR is thrilled to announce that Nevada's new Governor, Joe Lombardo, will be joining conference goers on Wednesday morning (4/12). This last day of the event will be closed by the amazing and talented Bow Tie Economist, Elliot Eisenberg!
Other guest speakers include tech-minded Nobu Hata, NAR General Counsel Katie Johnson, business coaches Natalie Davis and Julie Youngblood, quick start success story Nick Giorgi, a real estate commission panel led by Commissioner Lee Gurr, MLS and Leadership panels, DEI presentations and much more!
Don’t miss the networking and fun! NVR hopes you are excited to join us! Tell a friend! Be sure to save the dates in your calendar and register for a fun, insightful conference. To learn more and register for the event, click here. The deadline to take advantage of the conference's reduced-rate room block is March 11. To check out the reservations and the room block, click here.
With four weeks of 2023 Session in the books, Episode 4 is released
Nevada Realtors 2023 President Tom Blanchard and Past President Chris Bishop (2020) discuss the Silver State real estate industry and policy impacts as the Nevada Legislature continues its 2023 session. The third host in Episode 4 is NVR 2023 Legislative Chair Keith Lynam. Watch the video here.
*A Reminder that Bills and Bill Draft Requests are CONSTANTLY CHANGING during Session. The information contained in this video MAY NOT BE CURRENT for more than a couple of days. Please view updated “It’s Not Soup Yet” videos and read the REALTOR Advocate which goes out to NVR members via email every week during session for the latest information.
Are you tired of overpaying your taxes as a small business owner or freelancer? Do you feel like your accountant is just running an assembly line of tax filing and doesn't have time for proper tax planning? Did you know 93% of small business owners overpay their taxes? It’s time for you to take back control and stop making costly mistakes.
Join Dominique Molina, president of the American Institute of Certified Tax Planners, in the "Last Minute Tax Fix" webinar on Wednesday, March 8, 2023 @ 10 a.m.In this live webinar, you'll learn how to avoid the 10 most expensive tax mistakes and get expert advice on topics such as tax planning and basic tax computation, strategies for reducing your risk of an IRS audit, protecting your deductions, and more. Click here to sign up now for the "Last Minute Tax Fix" webinar and take control of your finances.
