Las Vegas MORE THAN MEETS THE STRIP
2 LAS VEGAS | guidebook
3
Las Vegas in a Nutshell: it will never fit Aside from the glitz and neon lights on the Strip, Las Vegas proper has a number of residential opportunities from high-rise condominiums on the Strip to residential neighborhoods to guardgated luxury subdivisions. There’s something here for everyone.
The history of the city, along with its reputation as a party town, is actually a little misunderstood. The Strip is only 4.2 miles long. The city is over forty-five square miles. So, what else is there? Plenty. From quiet neighborhoods to mansion-like estates, to multiplex condominiums, Las Vegas offers it all. For the more jet-setting crew, most of the new hotel-casinos are reserving their top floors for luxury condominiums. Living in the sky above the Strip, views abound whether of the nearby mountains, golf courses, or radiant sunsets. Making these high-rise residences even more appealing are the conveniences of concierge services, private entrances, and underground parking. Whatever your lifestyle, you won’t be disappointed in finding your ideal home on the Strip, in a quiet neighborhood on the outskirts of this amazing city, or lakeside on the shores of Lake Las Vegas.
4 LAS VEGAS | guidebook Destinations Las Vegas Culture Casinos Sports
5 All Things Nature Golf Guard-Gated Communities Nevada Tax Structure
7 Las Vegas Perks • World-class dining • The finest entertainment • Easily accessible international airport • Year-round golf • Unparalleled recreation • No state income tax • Professional sports
• Las Vegas Natural History Museum
• The Mob Museum
• Madame Tussaud’s Wax Museum
8 LAS VEGAS | guidebook
• Fremont Street Arts District
• Las Vegas Motorspeedway
• The High Roller at The LINQ
Don’t miss these interesting and entertaining attractions across the region:
Destinations: If gambling and showgirls aren’t your thing, Las Vegas is also a culturally rich city with a plethora of local and internationally known art galleries, the world-class Las Vegas Philharmonic, and Madame Tussaud’s Wax Museum. The Arts District is an up-and-coming area north of the Strip where local independent businesses and creative artisans gather to show and sell their wares. Las Vegas is, and always has been, a mecca for all types of artists, and the quality of life and exposure to a welcoming multicultural atmosphere is apparent throughout the city as it grows into one of the most intellectually stimulating areas in the southwest.
• The Neon Museum
• Pinball Hall of Fame
• Fountains at the Bellagio
• Las Vegas Sign
10 LAS VEGAS | guidebook
of
that
Just a few of the venues and events around town: • Bellagio Gallery of Fine Art • Centennial Hills Amphitheater • The Smith Center • The Brooklyn Bowl • Chamber Gallery • Boulder Plaza • The Colosseum at Caesar's Palace • The Chelsea • West Las Vegas Art Center Gallery • First Friday on Fremont Street
11
Culture and Entertainment Culture and entertainment have continued to thrive in Las Vegas and the contributions from various collectors and philanthropists are no different. As the population of the city grows, so do opportunities to experience world-class performances and shows from international performers and artists. Classic exhibits from centuries-old artists make their way through galleries like the Bellagio Gallery of Fine Art as well as the collections at the Wynn Resort, and of course, the variety musical acts play in the numerous venues across the city.
12 LAS VEGAS | guidebook Casinos: Casinos are the biggest draw to Las Vegas, helping the city bring in over 49 million visitors in 2019 alone, and it just keeps growing. The Las Vegas Visitors and Convention Authority says that figure is up from 42.1 million in 2018. Gambling in casinos and business conventions make Las Vegas a true destination spot, and tourism generates $58 billion annually in Southern Nevada and the Las Vegas Valley. The industry supports over 300,000 local jobs, representing nearly 40-percent of employment opportunities within Clark County. Comedian Chico Marx put gambling at its best as this, “If I lose today, I can look forward to winning tomorrow, and if I win today, I can expect to lose tomorrow. A sure thing is no fun.” Some of the more famous casinos on the strip: • Caesar’s Palace • The Mirage • Wynn & Encore • Park MGM • The Bellagio • MGM Grand • Aria • The Cosmopolitan • Venetian/Palazzo • Paris
14 LAS VEGAS | guidebook
15
Sports Sports In Las Vegas has been one of the most important influencers in the growth of our city over the past few years. The arrival of National Hockey League (NHL) team, the Vegas Golden Knights, sparked interest by presenting Las Vegas as a serious market for a variety of professional sports teams. When the Oakland Raiders were searching for a new home, Las Vegas welcomed them with open arms and ended up being a perfect fit for the professional football team. With an established and enthusiastic fan base, Las Vegas is ready to cheer on the Raiders at the Allegiant Stadium. Las Vegas has also been home to a number of minor league teams, including the Aviators, a AAA baseball team, at the Las Vegas Ballpark in Downtown Summerlin.
Sports to watch out for: • The Golden Knights (NHL) • The Las Vegas Raiders (NFL) • Las Vegas Aces (WNBA) • Vegas Rollers (Professional Tennis) • Boxing • Las Vegas Aviators (AAA Baseball) • UNLV Rebels (NCAA) • Las Vegas Lights FC (Soccer) • UFC
16 LAS VEGAS | guidebook Surrounding Nature When you think of Las Vegas, generally you think of opulent resorts, 24/7 restaurants, and breathtaking shows. But did you know that there is a bevy of outdoor recreation to experience? Watersports, hiking and biking trails, sportfishing, camping, and even snow-skiing make up just a small part of the outdoor activities around the Las Vegas Valley. Within moments, you can escape the hustle and bustle of the city to relax outdoors enjoying the desert, woods, and hot springs that dot the Las Vegas Valley for year-round outdoor recreation. It’s true. In addition, California and Utah are only a few short hours’ drive away, so pack your bags and hit the highway for a road trip you’ll never forget. Here are just a few of the natural preservations around the Las Vegas area: • Lake Mead • Mount Charleston • Lake Las Vegas • Red Rock Canyon National Conservation Area • The Colorado River • Valley of Fire • Black Canyon • Spring Mountain Ranch State Park • Zion National Park • Bryce Canyon Nat’l Park • Death Valley Nat’l Park
18 LAS VEGAS | guidebook
Golf For the golf enthusiast there’s no better place to live than the Las Vegas region. With over 40 golf courses in Las Vegas alone and another 19 within 20 miles of the city, there’s something for everyone at all skill levels. From the Jack Nicklaus designed Reflection Bay to the Pete Dye courses at the Las Vegas Paiute Golf Resort, the selection is immense. Whether you’re a scratch golfer or just someone who enjoys just getting out on the course with friends, Las Vegas and the surrounding communities have year-round opportunities to hit the links and spend some time outdoors. Some of the top-rated world class golf courses are located in Las Vegas, both private and public, so come for the usual entertainment and be sure to make time for a round or three at some of the best courses in the country. taste of the best courses around Vegas:
19
A
• DragonRidge • Reflection Bay • Shadow Creek • Cascata • The Summit • TPC Las Vegas • Rio Secco • South Shore • Wolf Creek • Wynn • The Wolf at Paiute • Bear's Best • TPC Summerlin
20 LAS VEGAS | guidebook
21
Summerlin to the west Summerlin is a 22,500-acre master-planned community that rests against the edge of the Spring Mountains and Red Rock Canyon on the western edge of the Las Vegas Valley.
Partially in the city limits of Las Vegas and Clark County, Summerlin was named after Jean Amelia Summerlin, the grandmother of billionaire land-developer Howard Hughes, and was named the "#1 best place to live and play" by National Geographic Adventure in 2007 and one of the "Best Places to Live in America" by Money Magazine in 2014. In addition to the number of guard-gated communities found throughout the area, Downtown Summerlin is home to premier shopping, dining, and entertainment. Summerlin is also home to more than 230 parks, over two dozen private and public schools, nine golf courses, three resort hotels, and many more public amenities.
22 LAS VEGAS | guidebook
The Strip in the middle The Strip is the entertainment capital of the world. As the urban core of the Las Vegas Valley, it features a variety of hotel high-rises as well as residential and retail developments. Most of the casinos are multi-use structures with the casinos and resort facilities on the bottom floors with luxury condominiums and penthouses on the upper floors. With plenty of perks like views of the nearby mountains, golf courses, or radiant sunsets, these highrise residences are even more appealing when you factor in the conveniences of concierge services, private entrances, and underground parking that most of them afford. Living in the sky above the city is a breathtaking experience and the all-night attractions on the ground can make these residences very appealing considering the world-class dining, exclusive shopping, and all of the other culturally rich activities there are just a few feet outside your front door; from art galleries to street performers to concerts by worldrenowned musicians and artists, the list is endless.
23
24 LAS VEGAS | guidebook
25 Henderson to the east Henderson is the second largest city in Nevada boasting a number of guard-gated communities and is part of Clark County in the Las Vegas metropolitan area. The City of Henderson offers 66 meticulously maintained parks for your enjoyment. In addition to open grass areas and playgrounds, features include walking courses, dog parks, skate parks, splash pads, and lighted sport areas. The city is also known for supporting the arts and holds an annual Shakespeare in the Park, an event that has been held for the last ten years running. The Water Street District is an area where scores of resident artists hold premiers, open houses, and private showings throughout the year. Everything from folk art to fine art is on display in this unique area of the city. With over 37 miles of hiking and biking trails as well as Lake Las Vegas within its borders, there’s also no shortage of outdoor activities to partake of in this city located just 16 miles southeast of Las Vegas.
26 LAS VEGAS | guidebook
Las Vegas Las Vegas itself, in addition to offering 4.2 miles of unending entertainment also provides many opportunities for living and residing close to work and recreation. Some dense suburban residential areas as well as affluent master-planned communities such as The Lakes offer an affluent lifestyle with spacious homes and luxurious amenities. Of course, living this close to the Strip makes for an easy commute to the city of Paradise and downtown Las Vegas. While the idea of living in Las Vegas proper may seem absurd, the Strip and its attractions make up only a small portion of the city. Living there not only affords proximity to the city, it also provides its residents with many other off-Strip amenities like highly rated schools, parks and recreation, as well as its convenient location to nearby McCarran International Airport.
27
Clark County, Nevada. Assessment varies per county. Nevada does not charge sales tax on medicine, services or on food items for home use.
29
Property Tax
$3.1015 (Clark County Weighted Average) per $100 assessed value (assessment ratio of 35%) Actual dollar amounts vary by township/city with a cap of $3.64 per $100.00 of assessed valuation, plus 2 cents added to the state debt component for capital projects, for a total of $3.66. Commerce Tax This applies to businesses with annual gross revenues in excess of $4 million. Rates vary by industry type. Fifty percent of a businesses’ commerce tax can be applied as a credit against the modified business tax. The tax is paid annually and begins to accrue on July 1, but is not first payable until August 15. (For individual business rates, please see the Nevada Office of the Secretary of State or refer to this document.)
Nevada's Tax Structure No Corporate/ Personal Income Tax No Unitary Tax No Franchise Tax on Income No Inventory/ Inheritance/ Estate/ Gift Tax No Admissions/ Chain Store Tax Sales 8.38%Taxin
Modified Business Tax No tax on gross wages less than $50,000 per calendar quarter. 1.45 percent on gross wages above $50,000 per calendar quarter. Employers may deduct dollars paid for employee health insurance or health benefit plan. (The rate on financial institutions and mining companies is 2 percent). Unemployment Tax for New Employers Employers starting a new business in Nevada must pay unemployment insurance (UI) tax at a rate of 2.95 percent (.0295) of wages paid to each employee up to the taxable wage limit of $27,800. The employer retains this rate for a period of 14 to 17 calendar quarters (depending on the quarter in which he becomes subject to the law), after which this rate will be determined under the “Experience Rating” system. There is an additional .05 percent (.0005) tax for the Career Enhancement Program (CEP).
Business License Fee: State Business License State Business License for corporations is $500. The business license fee for all other entities is $200.
30 LAS VEGAS | guidebook We hope this guide has given you a glimpse into what Las Vegas has to offer and the surrounding neighborhoods, communities and municipalities. For more information please feel free to reach out to us. On behalf of everyone at Las Vegas Sotheby’s International Realty, welcome to Las Vegas and all of the amazing resources it has to offer.
®,™ and SM are licensed trademarks to Sotheby’s International Realty Affiliates, Inc. An Equal Opportunity Company. Equal Housing Opportunity. Each Office Is Independently Owned And Operated, Except Offices Owned And Operated By NRT Incorporated. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. * All information from sources deemed to be reliable although not warranted or guaranteed by Gene Northup or Sotheby’s International Realty® All information from MLS and Tax Records representing Single Family Homes only in MLS Areas 101-606 LASVEGASSIR.COM 6 CONTINENTS • 79 COUNTRIES • 1,000 OFFICES • LOCAL EXPERTS WORLDWIDE
