New Tax Law to Affect less than 2% of Clark County Households

There has been a lot of talk about the New Tax Laws.

This being a Las Vegas Real Estate Blog, 

we will look specifically at how this will affect Clark County Home Owners.

The new law affects the deductibility of mortgage interest and real estate taxes:

- New mortgages are capped at $750,000 for purposes of home mortgage interest deduction, down from $1 million today.
- State and local tax deductions remain in place, but are capped at $10,000 for state and local sales, income and property taxes.
NAR conducted an analysis to identify which metro areas will be most affected by the above provisions. For each metro area, we calculated the share of homes with mortgages that are worth over $750,000 and share of owners who paid more than $10,000 for real estate taxes. The map below shows how many homeowners will be impacted by the new tax law for 382 metro areas. (the darker the color, the higher the impact is)

In The Clark County Metropolitan Are:

The New Mortgage Interest Deduction Law will Affect less than 2% of Home Owners.

 The New State and Local Deduction Law will Affect less than 1% of Home Owners.

Click HERE to use Interactive Map