If you live in Washington, and your house, your retirement accounts, and your life insurance add up to more than $3 million, the state of Washington takes a cut when you’re gone.

Nevada takes zero.

People up there are noticing. The Las Vegas Review-Journal has reported that wealthy buyers and retirees from Washington are moving to the Las Vegas Valley in real numbers. When Seattle-area agents were asked why, the answer wasn’t only income tax. It was the capital gains tax and the estate tax.

Then, on November 3rd, Washington voters decide whether a 9.9% income tax on household income over $1 million takes effect in 2028.

I’ve lived in Summerlin since 2006, raised my boys here, and spent years on the builder side of new construction before I ever represented buyers. So here’s what a Washington couple actually keeps when they move to Las Vegas, and where people give it back once they get here.

Meet Mike and Laura

Mike and Laura aren’t real, but I talk to couples like them every week.

Mike is 63 and retired. Laura is 61, works part-time, and wants to be done in a year or two. They live on the Eastside, raised their kids there, and their home is worth about the King County median, which was $845,000 in August.

They’re tired of the gray from October to June. Tired of the 405. And they’ve been watching what Olympia is doing with taxes.

Let’s keep a running tally for them: what they keep, and what Vegas costs.

Income Tax: “Not Yet” vs. “Not Ever”

Neither Washington nor Nevada has a state income tax today. On paper, it’s a wash.

Here’s the difference. In Nevada, no income tax is written into the state constitution. Changing it would take a constitutional amendment approved by voters.

In Washington, it’s one law away, and that law has already passed: 9.9% on household income over $1 million starting January 1, 2028. I-645 on the November 3rd ballot would repeal it. If it survives, you’re relying on a threshold that some of its own supporters have already talked about lowering.

Washington also taxes capital gains: 7% on gains above about $278,000 a year, and 9.9% above $1 million. It doesn’t apply to selling your primary home, but if you sell a stock portfolio, a business, or investments to fund retirement, Washington takes a share. Nevada doesn’t.

Nevada also doesn’t tax Social Security, pensions, or IRA and 401(k) withdrawals.

The Estate Tax: The One That Matters Most After 55

Washington’s estate tax starts at $3 million. The federal exemption is $15 million. Washington’s rates start at 10%, and the state doesn’t let married couples combine exemptions the way the federal system does.

Say Mike and Laura’s home, retirement accounts, and life insurance total $4 million. After twenty years of owning on the Eastside, that’s not a stretch.

When the second spouse passes, Washington taxes everything over $3 million. That first million at 10% is about $100,000, gone before their kids see a dime.

In Nevada, it’s zero. No estate tax and no inheritance tax.

There are legal ways to reduce estate tax exposure, and that conversation belongs with a good estate attorney. But you should know the tax exists before you decide where you’ll spend the rest of your life.

The House: Coming in With Cash and Leverage

Mike and Laura sell for about $845,000. The median home in Las Vegas sold for $470,000 in September.

For many couples like them, that means buying here with cash or a very small loan. Mortgage rates are around 7.4% right now, which doesn’t matter much if you’re paying cash. Whatever’s left over sits in a state that doesn’t tax what it earns.

What makes right now different is leverage:

• More than 10,000 homes are on the market across the valley, the first time we’ve crossed that line since 2014.
• At the end of September, nearly 8,000 had no offer.
• About 43% of listings have already taken a price cut.
• We’re heading into the slowest stretch of the year, when many buyers wait until after the holidays.

If you’ve been watching Seattle prices slip and assumed you’d have to fight for a home here, you won’t. You get to choose: single-story homes, 55+ communities like Sun City Summerlin, Del Webb, and Trilogy, gated neighborhoods with Red Rock views.

Cash buyers are in good company. In September, nearly one in four homes sold in Las Vegas was a cash deal. Sellers here know what that means: no loan to fall through, no appraisal fight, and a faster close. On a home that’s been sitting 60 or 90 days, that offer gets taken seriously. A financed buyer asks for money toward their rate. You don’t need that, so ask for price.

At the luxury level, leverage is even stronger. More than 1,000 homes over $1 million are on the market in the city, with only about 230 sold over the last three months. That’s more than a year of inventory. Washington buyers have noticed. The Review-Journal has covered the wave of Washington buyers, U-Haul lists Washington among the top five states people move to Nevada from, and Four Seasons Private Residences in Henderson has reportedly sold most of its presales.

Luxury new construction has been my world for over twenty years, starting at CityCenter, so I know where the real opportunities are at the top of this market.

Year-End Builder Incentives

I spent years in builder sales offices, so here’s what’s happening right now. Builders are offering some jaw-dropping year-end incentives. They know 2027 isn’t getting easier, they’ve already pulled back on next year’s starts, and they want deals on the books before December 31st.

That means rate buydowns plus $10,000 to $30,000 or more in closing-cost and design credits, especially on quick move-in homes that cost the builder money every day they sit.

Here’s the catch: many incentives are tied to the builder’s own lender. If you’re paying cash, ask the sales office directly, “What’s this worth to me as a cash buyer?” That’s when you negotiate for price, upgrades, or closing costs.

And just because you can put every dollar into the house doesn’t mean you should. Keep a cushion, and talk to your financial advisor about how much stays liquid.

So far, Mike and Laura’s tally looks great. This is where people give it back.

Not sure which part of the valley fits you? Take the Vegas Confidential Community Match Quiz. Answer a few questions about how you want to live, and it’ll point you to the communities that match.

Where the Money Goes

Your car. Las Vegas is a driving city, and it consistently ranks among the most expensive cities in the country for auto insurance. Even the cheapest full-coverage policies here average about $2,200 a year. Get a quote before you move.

Nevada also charges a Governmental Services Tax at registration, based on the vehicle’s original sticker price. On a $40,000 truck, plan on about $665 the first year.

The power bill. In Seattle you barely think about air conditioning. Here, July through September, a larger home can run $300 to $500 or more a month, and then winter costs almost nothing. Budget for the year, not the month.

Healthcare. We have strong hospitals, including Summerlin Hospital, Henderson Hospital, the St. Rose campuses, Intermountain, and UMC, our Level I trauma center, plus the Cleveland Clinic Lou Ruvo Center for Brain Health. The UNLV medical school keeps growing.

But Nevada ranks near the bottom nationally for doctors per person, and new-specialist appointments can take time. If you’re used to UW Medicine, Swedish, Virginia Mason, or Fred Hutch, it’s an adjustment. Some of my clients still travel to Southern California or Utah for complex care.

What I tell every client over 55: find a primary care doctor before you move or the week you arrive, confirm your specialists are in network, and talk to a licensed Medicare advisor. Clark County has many Medicare Advantage options, and Nevada has a Medigap birthday rule that lets you switch plans around your birthday each year.

The heat is a health factor too. A single-story home, good shade, and an air conditioner you trust aren’t luxuries here. They’re the plan.

The Fun Part (Also the Expensive Part)

This move isn’t only about taxes. It’s about lifestyle, and Las Vegas always has something going on. Much of it is priced for tourists.

• Strip shows: often $100 to $250 per person. Dinner for two on the Strip runs $150 to $300, and most major resorts charge for parking.
• Raiders at Allegiant Stadium: amazing, and some of the priciest tickets in the NFL. Two people with parking and food can spend $600 to $1,000 for the day.
• Golden Knights at T-Mobile Arena: the pregame show alone is worth it, but it’s Strip parking and a Strip dinner before you sit down.
• The Sphere: nothing like it anywhere, and priced that way. Concert residencies can run $200 to $500 a seat.
• The Smith Center: Broadway tours, the Philharmonic, and jazz. Usually a better value, easier parking, and one of my favorite things about living here.

Two Raiders games, five Knights games, a couple of Sphere shows, and a Smith Center subscription, plus dinners and parking, make for a fantastic year. It’s also a real number that can eat into what you just saved.

So decide how much of Las Vegas you want to take in. Are you living here, or on vacation every weekend? There’s a locals’ version of this city too: Red Rock, Green Valley Ranch, the M, Downtown Summerlin, and Nevada-resident discounts. You can live a big life here without paying Strip prices every time.

Your Washington-to-Las Vegas Checklist

1. Watch the November 3rd vote on I-645.
2. Sit down with an estate attorney and run your numbers in both states.
3. Line up a primary care doctor and check your specialists before you move.
4. Get a Las Vegas car insurance quote, and budget your power bill for the full year.
5. Write down your Vegas entertainment budget, then put both states side by side. That’s the only number that tells you whether this move works for you.

Watch the Full Video

I walk through Mike and Laura’s full tally in the video here: [LINK]

Thinking About Leaving Washington?

If Las Vegas is on your list, let’s figure out which part of this valley fits your life and what it will really cost to live it. Call or text me at 702-335-4779, or book a call at jennifergraffrealtor.com.

And tell me: where in Washington are you, and what has you looking?

Jennifer Graff | The New Home Experts Las Vegas at Simply Vegas