SOURCE: Desert Property Investor
Desert Property Investor this evening had its eye on events playing out in two neighboring southwest states, wherein tax-weary Californians are fleeing east, finding a financial haven in Nevada.
Henderson, NV (PRWEB) November 25, 2012
Relying on the Las Vegas Review Journal's analysis of California's "Proposition 30" (legislation which raises the income tax rate to 13.3 per cent for the state's richest taxpayers) Desert Property Investor concluded that more Californians will continue relocating to Nevada, a state whose housing market could certainly benefit from the influx of affluent transplants seeking high desert real estate.
The reason Desert Property Investor agreed with Las Vegas Review columnist Jane Ann Morrison's assessment of the ongoing California exodus was due to her accurate description of the tax climate fostered by voters in Nevada, who have voted overwhelmingly against legislation fostering any new tax hikes.
The recent passage of Proposition 30 in California placed an additional tax burden on the wealthiest Californians, raising their rate to 13.3 per cent. This, combined with federal income tax, is serious motivation to flee into Nevada where the tax code is much more lax, a situation that is good for the Nevada economy, and for well-heeled Californians seeking new property investment advice in Nevada. With the cost of living in California, many have been relocating to areas such as Arizona for Phoenix furnished housing and Nevada for larger housing at a lower cost.
An exodus is an unstoppable movement of departure from one principality to another, --a flight caused by situations usually out of the peoples' control.
Desert Property Investor is keeping a keen eye on the California/Nevada border, wherein wealthy Californians weary of tax burdens placed on them by such legislation as Proposition 30 are fleeing into Nevada, a scenario which may turn out to be quite beneficial for the Nevada housing market.
About Desert Property Investor:
Desert Property Investor evaluates opportunities, pitfalls, services, and legislation related to the investment in residential property in the California, Arizona and Nevada deserts.
For the original version on PRWeb visit: http://www.prweb.com/releases/prwebCA-prop-30/relocate-to-nevada/prweb10167276.htm