Where to buy a Lake Tahoe home...Nevada or California?
Submitted by Anonymous on Thu, 08/02/2012 - 3:54pm
Just a few years ago home buyers were choosing the Nevada side over the California side when looking for a Lake Tahoe home to purchase. Taxes were lower and schools were better so Nevada was more attractive. But is that still the feeling? There's good news, and bad news, depending on which neighborhood/state you're set on owning a home in.
Shining Example of Schools in South Lake Tahoe, Calif.
South Tahoe High School just underwent a complete revamping and is now a shining example of what is good about school. The brand new Stadium View, Theater Arts and Design Academy (TADA), Construction, Arts and Transportation Academy (CAT) buildings will soon be joined by the brand new Student Union. Students can now prepare for careers while still in high school with the CAD labs, high tech auto shop, digital imaging labs and dental hygiene training. With the number 1 industry in California being entertainment, STHS is now equipped to mold the next crop of creative geniuses. TADA has sound rooms, editing areas, a TV studio, music room, media lab, sound mixing rooms and much more. Staff fondly calls TADA a mini-Pixar Studio. Soon to be added is the Sports Medicine Academy as well as an academy where athletes that compete in skiing, snowboarding and ice sports can now complete a normal high school schedule that will fit their travel, competition and training schedules.
Representatives from school districts around the west have been visiting South Tahoe High to see how the new academy concept and new building designs work. They take what they see in South Lake Tahoe and want their towns to emulate the school.
Grant and bond monies have been used to remodel and revamp South Tahoe Middle School so students are able to move out of portable rooms into brand new classrooms. The 4 elementary schools in South Lake Tahoe, CA have all seen updates as well.
South Tahoe Magnet School (grades K-5) is rated a 10 out of 10 by greatschools.org. The high school is a 9 and the middle school a 6.
Even if you don't have kids, a very good school district and the educational opportunities offered in Tahoe will increase the resale value.
Small population and small school on Nevada side of Lake Tahoe
With a much smaller population, Nevada residents have just 2 schools to attend at Lake Tahoe. Zephyr Cove Elementary (K-6) and Whittell High School (7-12). At one time there was Kingsbury Middle School, but with drastically reducing funds and students the school was closed and the classes were divided between the remaining 2 schools. Some people like the small atmosphere of these schools. The kids know each other well, the teachers and staff get to know families, and a big point: a large number of scholarship opportunities to be spread over just a few students.
Both schools are old and in need of updating. When looking at the ratings of the schools by greatschools.org the high school is a 6 and the elementary school is a 7.
Good News California
If you live on the California side of Lake Tahoe and are looking at colleges, you have a large selection of higher centers of learning than one does in Nevada. Nevadans are forced to look at out of state tuition unless they chose 1 of the 2 universities. Lake Tahoe, Calif., residents can go to the university in Reno at a "good neighbor" rate.
There are more Tahoe homes for sale to choose from on the California side. The Tahoe Keys neighborhood allows many people to own homes on the lake or waterways. Many other areas, like the Al Tahoe neighborhood, have an easy walk to the lake and local parks. One can also get "more bang for their buck" with homes at a much lower price than their counterparts on the Nevada side. Another local Realtor told me in a recent conversation, "We see that homes in the $500,000 to $1,000,000 range will be $200,000 less in California for the same home."
There is the City of South Lake Tahoe as well as the unincorporated areas of El Dorado County. When it comes to government there is local representation on the city council and one seat on the county Board of Supervisors. Nevada's government is led from the county seat in Minden.
Good News Nevada
There are 2 major positive points to owning a home in Nevada:
1. NO state income taxes
2. Considerably lower property taxes than neighboring California
There are no state corporate, personal income, estate, unitary, inventory, or franchise taxes. To qualify, income must be earned in Nevada so check with your accountant. This can be a huge annual savings. Many people move to Nevada to take advantage of these tax benefits and enjoy the fact that Nevada is a much more business friendly state. A recent client of mine says she saved $1,000,000 in taxes last year by moving her home and her business to Nevada.
Nevada Lake Tahoe homes for sale offer buyers a wide variety of choices. A larger percentage of Nevada homes have lake views since they are situated along the sides of the mountain.
Since Nevada is such a small state many things are more accessible. Stop by the state government offices in Carson City and you'll see your elected officials walking the halls. In California you have to get through guards and most areas are not reachable by the public.
Another good point to living in Nevada is snow removal. Since there aren't many streets and traffic is less, plows can get in and clear the roads much quicker than they're able to on the California side.
Property Taxes Much Lower in Nevada
The property taxes in Nevada are 40-50% LESS than in California. This savings can add up to large amounts over the years.
Buy a Lake Tahoe Home
Search South Lake Tahoe CA real estate and you'll currently see 271 homes for sale from a low of $99,500 to a high of $5,250,000. The neighborhoods that have seen the most activity have been the Bijou and Sierra Tract neighborhoods due to the lower price point of homes for sale. The 3 most targeted areas for home buyers have been the Tahoe Keys, Montgomery Estates and Heavenly Valley neighborhoods.
South Lake Tahoe Nevada real estate offers a wide variety of homes for sale from condos to luxurious estates. There are currently 200 homes for sale from a low of $99,000 to a high of $75,000,000. Some of the more popular neighborhoods are Cave Rock, Kingsbury Grade and Zephyr Cove.
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