Tool | | November 2017

State-by-State Guide to Taxes on Retirees


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The Bottom Line
Map of Nevada

Most Tax-Friendly

One of Kiplinger's top ten most tax-friendly states for retirees, the Silver State offers retirees a jackpot of tax savings because there is no state income tax. But its state sales tax is 5.5%, and counties may add up to an additional 1.3%. Plus, almost every jurisdiction in Nevada gets a bite of the property tax apple.

State Sales Tax

5.5% state levy. Localities can add as much as 1.3%, and the average combined rate is 7.98%, according to the Tax Foundation.

Income Tax Range

There is no state income tax.

Social Security

Benefits are not taxed.

Exemptions for Other Retirement Income

Retirement income is not taxed.


Retirement income is not taxed.

401(k)s and Other Defined-Contribution Employer Retirement Plans

Retirement income is not taxed.

Private Pensions

Retirement income is not taxed.

Public Pensions

Retirement income is not taxed.

Property Taxes

All property in the state is subject to tax by the state, counties, cities, towns and school districts. The assessed valuation for tax purposes is based on 35% of the fair market value of the property, which is revalued every year.

The median property tax on Nevada's median home value of $192,100 is $1,420.

Tax breaks for seniors: No property tax breaks are offered for seniors.

Vehicle Taxes

Sales tax is due on vehicle purchases, but private-party deals are exempt. An annual tax is also levied, based on the vehicle’s value and age. Example: The owner of a vehicle that is two years old with an original sticker price of $20,000 would pay $238. Clark and Churchill counties add to that to fund road construction; for this sample vehicle, they add another $60.

Inheritance and Estate Taxes

There is no inheritance tax or estate tax.