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Friday, September 20, 2024

Lower property tax revenue in Nevada during Q2 2023

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Anthony Wren Tax Commissioner at State of Nevada Department of Taxation | State of Nevada Department of Taxation

Anthony Wren Tax Commissioner at State of Nevada Department of Taxation | State of Nevada Department of Taxation

Nevada collected $378 million in property taxes during the second quarter of 2023, a 3.8% decrease from the first quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the first quarter of 2023 was $393 million.

Overall, Nevada collected $4.7 billion in combined tax revenues in the the second quarter of 2023, an increase from the $2.9 billion collected in the previous quarter.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q2 2023 Nevada Tax Collections
Type of TaxAmount (millions)
Property Taxes$378
Sales and Gross Receipts Taxes$3,495
License Taxes$206
Other Taxes$607
Source: U.S. Census Bureau

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