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Friday, September 20, 2024

Property tax revenue up 30.4% from previous quarter in Nevada

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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 $558 million in property taxes during the first quarter, a 30.4% increase over the fourth quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the fourth quarter of 2023 was $428 million.

Overall, Nevada collected $3.8 billion in combined tax revenues in the first quarter, an increase from the $3 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.

Q1 Nevada Tax Collections
Type of TaxAmount (millions)
Property Taxes$558
Sales and Gross Receipts Taxes$2,789
License Taxes$171
Other Taxes$223
Source: U.S. Census Bureau

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