Washington’s New Millionaires’ Tax Drives High-Income Buyers to Incline Village, NV

By Carson Long, Incline Village Realtor | Mizak Mountain Luxury Team | COMPASS

As part of Incline Village’s #1 real estate team, we’ve been seeing a noticeable uptick in high-income buyers from Washington state exploring Lake Tahoe properties. The reason is clear: Washington has been working on and just passed a new income tax for top earners, and affluent residents are looking for smart ways to protect their wealth without giving up the outdoor lifestyle they love.

SENATE BILL 6346: THE MILLIONAIRES’ TAX

The Washington House of Representatives recently approved Senate Bill 6346 on a 52–46 vote. Known as the “Millionaires’ Tax,” this legislation imposes a 9.9% state income tax on households earning over $1 million annually. Governor Bob Ferguson is expected to sign the bill into law once it clears the final steps in the legislature.

The tax is projected to generate $3.5–4 billion annually to fund public education, healthcare, and expanded social programs. It will take effect January 1, 2028, with collections beginning in 2029.

WHY INCLINE VILLAGE, NV IS ATTRACTING WASHINGTON BUYERS

Many high-income buyers we work with are now evaluating Incline Village on Lake Tahoe’s north shore as a relocation option. Here’s why:

• No State Income Tax: Nevada does not tax personal income, offering substantial savings for households impacted by Washington’s new 9.9% tax.

• Tax-Efficient Residency: Establishing Nevada residency (6 months + 1 day) allows buyers to reduce overall tax burden while maintaining ties to Washington.

• Luxury Outdoor Lifestyle: Residents enjoy Lake Tahoe beaches, Diamond Peak Ski Resort, hiking and biking trails, golf courses, and year-round recreation.

• Proximity to Washington: Just a short flight from Washington, keeping family, work, or business connections close.

As a result, demand for Lake Tahoe luxury homes is rising, especially among buyers seeking tax-friendly relocation options without compromising lifestyle.

KEY TAKEAWAYS FOR BUYERS

• Washington’s 9.9% tax on income over $1M is now law (SB 6346).

• Incline Village, NV, offers no state income tax, luxury homes, and a world-class outdoor lifestyle.

• High-income buyers are moving to Lake Tahoe real estate to combine tax efficiency with lifestyle benefits.

READY TO EXPLORE LAKE TAHOE REAL ESTATE?

If you’re a Washington high-income buyer looking to reduce your tax exposure while enjoying Lake Tahoe’s unmatched lifestyle, now is the time to explore Incline Village luxury homes.

Contact me today to schedule a private consultation and see what opportunities are available as the market heats up.

YOUR LAKE TAHOE REAL ESTATE RESOURCE

Carson Long — Incline Village Realtor® with Compass | Mizak Mountain Luxury Team – Incline Village’s #1 Real Estate Team by Volume in 2025

[email protected]
(775)298-1270

NV S.0201680 | CA DRE: 02263556

*Total Recorded Sales Volume for Incline Village, NV | IVRMLS & NNRMLS