Wealthy Californians eying move to Las Vegas as a means to reduce their tax burden
California’s proposed wealth tax is contributing to decisions by many wealthy Californians to entertain moving out of state. Las Vegas is one of their desired destinations. Nevada’s lack of state tax coupled with cheaper housing compared to California makes it a logical choice for rich Californians wanting to reduce their tax burden and expenses.
From Fox Business:
High-net-worth Californians are increasingly setting their sights on Las Vegas as they look to reduce their tax burden and protect their finances as a proposed wealth tax looms in the Golden State.
New data shows that by the end of 2025, more than 23% of Realtor.com listing views for Las Vegas homes came from Los Angeles, making it the leading source of out-of-market interest.
San Jose accounted for more than 8% of views, while Riverside, California, made up nearly 4%, according to Realtor.com.
“Migration from California to Las Vegas may reflect both tax considerations and the meaningful affordability gap between the two markets,” Realtor.com senior economic research analyst Hannah Jones told FOX Business in an email.
That gap is substantial. Los Angeles’ typical home price topped $1 million in January, while San Jose’s median listing price was even higher at $1.1 million.
In contrast, Las Vegas’ median listing price stood at $465,000, according to Realtor.com.
Nevada’s lack of a state income tax also remains a major draw, Jones said.
“Taxes and overall cost of living are major drivers, and Nevada’s lack of state income tax continues to be one of the most frequently cited reasons for the move,” Jones said.
“For some clients, it’s purely financial. They can sell a $2 million to $3 million home in California and purchase a comparable or larger property in Las Vegas for less while reducing their ongoing tax burden.”
The migration trend also comes as California considers a proposed wealth tax that would impose a one-time 5% tax on the net worth of residents with assets exceeding $1 billion.
The measure, backed by the Service Employees International Union–United Healthcare Workers West, would need roughly 875,000 signatures to qualify for the November ballot.
Additional Reading:
Compton, S. (2026, February 13). Rich Californians flock to Las Vegas housing market as lawmakers consider wealth tax. Fox Business. Link.
Category: Society
Lars assured me that California was doing well and that people and businesses were not fleeing. Yhis is the spot where I say “I fuckin’ toldja!”
Zuckerberg is bailing on Cali and moving to Miami. Funny that “elites” pushing the Democratic agenda while fleeing from the policies they champion. That means The Queef-issar is going have to cough up a few extra Billion to pay for the only people left in Commie-fornia. Suck it, Liberal douche bags!!!
California has succeeded in making 9 of their 10 wealthiest citizens leave the state taking $1,000,000,000,000 in assets with them. The one that is staying is a communist. They haven’t even imposed the tax yet. The GDP of California
iswas around $4,500,000,000,000, not sure how that will wash out but it will be ugly. The court battle of the tax will go on for decades and cost billions. The loss in income and capital gains taxes will be nothing short of epic. California may actually bankrupt itself by driving the billionaires out.The big pick up has been Florida, which has no state income tax or capital gains tax on sale of stocks, bonds, and real estate. The high end real estate market is now experiencing a boom. It is hard to say what this means in the field of also rans so far as those who are employed directly by the money makers relocate as well.
The question is where will the new tech corridor shake out to be? Texas? Florida? So many options out there. California committing Harakiri was very much on my bingo card for 2026.
No state income tax is a major contributor to the Californication of Jackson Hole, WY. WY is trying very hard to take advantage of the data center boom, we’ll see how that shakes out.
That’s going to be a classic case of “Be careful what you wish for…you just might get it.” 🤣
I’m afraid you’re right. We shall see.
Well, since so many are fleeing California, there’s no reason to send all that electricity from green river to places people are leaving. Power infrastructure just needs a little tweaking to get to where its needed if they succeed.
Here you go, my canine friend:
And by the way, a phase-shifting transformer does wonders with regards to where power flows. 🤣
Arizona can cut the flow of the Colorado and keep more of it.
The problem in the more remote areas is power production. When the data center uses more electricity than the town that it lives in, the pricing model doesn’t work and drives electricity rates way up for everyone.
The DATA Act and Grid Act are being presented to allow data centers to produce their own unconnected or connected commercial power, which is highly regulated.
The Permian Basin in Texas looks like it will be the big winner. They can supply power from NG and Wind power in huge quantities with no local competitors for resources.
Now that most new data centers use helium for cooling the Permian could be like something out of a Ray Bradbury Story.
Huge buildings full of AI computers that can run nearly forever and tend themselves with practically no human input. I wonder if a thousand years from now a star ship will show up on a mostly vacant planet and touch base with the AI computers, just to see how they are doing.
https://www.datacenterfrontier.com/site-selection/article/55289667/powering-ai-in-the-permian-texas-critical-data-centers-sustainable-energy-play
https://www.businesswire.com/news/home/20250729354856/en/New-Era-Heliums-JV-Closes-on-235-Acre-AI-Data-Center-Site-in-Permian-Basin-With-Option-to-Expand-to-438-Acres-in-Total-as-Buildout-Accelerates
Tucson is fighting data centers for that very reason. Power and cooling water are the major stumbling blocks, although the cooling water is a closed system and doesn’t have quite the demand the naysayers would have you believe. There’s talk in WY of small reactors ala Bill Gates, but it’s still in the arguing stage.
It’s all good though. All those millionaires and billionaires leaving California for greener pastures will cough up the exit tax…which will help sustain California, right?
/sarc off/
Yeah, the court cases are going to epic. California might not even have enough lawyers to support all of them and they have lot of lawyers.
Commiefornia has more lawers than any other state. That is in part because it has so many night law schools. There are about 20 law schools churning out law graduates. The majority graduating from the non-AALS approved night law schools don’t pass the state bar exam on their first try, as I surprisingly did on my first exam.
No dim voters, please. Thank you.
The irony of people fleeing the policies they voted for never fails to astound me. Retards. It’s just too bad it’s always to a red state.
It is how the zombie apocalypse works. They become zombified and then start wandering around infecting others. Before you know it there is a whole horde of them.
Too bad we don’t have a law that says if you are a D-rat or Prog moving to a red state you can’t vote for at least five years.
SEIU is a socialist/crypto-commie lead union of state employees. One of its former presidents was the head of the CPUSA.