Home Buying in Genoa>Question Details

Martin Crosk…, Home Buyer in Belmont, CA

Property rental and taxes in Genoa

Asked by Martin Croskery, Belmont, CA Sun Jun 23, 2013

We have been looking at several cities to relocate to in the next 3 or 4 years out of California. Renting and buying here in the Bay area is becoming impossible to keep up with and I am afraid if we do buy, prices will soon come tumbling down as I personally think it is unsustainable

I saw a nice property in Cloudburst Canyon which is close to Carson city, my wife is a pilates and TRX teacher and so can relocate almost anywhere with a studio. what is the property tax like in this area on say a $500K property? Does it get snowed on in the winter? If we were to purchase a couple of years before we move, what are the rental possiblities like in the area?

Thank you

Martin

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Answers

2
Martin,

Cloudburst Canyon is a wonderful neighborhood. Very popular and conveniently located to Carson City, Minden/Gardnerville and the entire Foothill corridor.

Taxes vary greatly depending on the year of construction. Nevada has a law regulating the amount that property taxes can be raised each year depending on the use ... personal or rental ... and the year the home was constructed. Homes on the tax roll prior to 2004 are treated differently than those that were built after that time frame. I usually tell folks that they can expect 3/4% to 1% on average ... each property is different.

Yes, we get snow but it's not usually a problem. It's a rare event and when it does snow it rarely lasts more than a day or so.

Regarding rental possibilities ... that should be easy however, if yu finance the property you will certainly not cover the payment in most cases. Also, obtaining a loan for a property that is not being purchased to move into will be more difficult. If you are buying for cash then there will be no issues.

Regards,
Lisa Wetzel
RE/MAX Realty Affiliates
1320 Hwy 395
Gardnerville, NV 89410
775-781-5472
carsonvalleyland@hotmail.com
0 votes Thank Flag Link Sat Aug 17, 2013
Hi Martin
Property taxes in our area are much less than CA. Our tax code is set up different than CA. There are several tax bases depending on the year the home was built and the area.
We do get snow most winters but not always. The sun melts the snow very quickly, usually the next day.
Property tax on $500,000 approx. $3000 for 2700 square feet. But there are variables as I mentioned.
Renting a home like this is possible.
You can view all homes for sale from all real estate offices on my website: http://www.BuyNevadaProperty.com
If you would like further info please contact me:
Theresa Redman
Lake Side Properties
Certified Residential Specialist
Over 25 years in Real Estate
775-721-4893
0 votes Thank Flag Link Sun Jun 23, 2013
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