Report: Fiscal Cliff Could Mean 5% Increase in Taxes for Nevadan - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

Report: Fiscal Cliff Could Mean 5% Increase in Taxes for Nevadans

Posted: Updated:

According to a new report by the Tax Foundation, a local family of four would see a nearly 5% tax hike next year if the so-called "fiscal cliff" isn't avoided.

That puts us 29th in the country when it comes to increasing tax rates, based on a Nevada family of four with a median income of $65,212.

Looking at those numbers more closely the report says Nevada families could expect a $3,211 increase from 2011 to 2013.

If an agreement can't be reached in Washington, D.C.; the highest estimated increase is expected to be in New Jersey. The report estimates a 6.82% climb there and the smallest increase would likely be in Washington state at 4.12%.

To see the entire report for yourself, click here.

  • NewsMore>>

  • Bighorns Fall to Long Island Nets

    Bighorns Fall to Long Island Nets

    Monday, November 20 2017 1:24 AM EST2017-11-20 06:24:23 GMT

    The Reno Bighorns (2-3) fell to the Long Island Nets (4-3) 108-102 Sunday night at the Reno Events Center. David Stockton led the Bighorns with 25 points, five rebounds and three assists while Sacramento assignee Georgios Papagiannis recorded his third straight double-double of the season with 12 points and 16 rebounds. 

    More >>

    The Reno Bighorns (2-3) fell to the Long Island Nets (4-3) 108-102 Sunday night at the Reno Events Center. David Stockton led the Bighorns with 25 points, five rebounds and three assists while Sacramento assignee Georgios Papagiannis recorded his third straight double-double of the season with 12 points and 16 rebounds. 

    More >>
  • Cult Leader Charles Manson Dead at 83

    Cult Leader Charles Manson Dead at 83

    Monday, November 20 2017 1:10 AM EST2017-11-20 06:10:58 GMT

    Authorities say Charles Manson, cult leader and mastermind behind 1969 deaths of actress Sharon Tate, 6 others, has died.

    More >>

    Authorities say Charles Manson, cult leader and mastermind behind 1969 deaths of actress Sharon Tate, 6 others, has died.

    More >>
  • Pyramid Way Back Open After Fatal Crash

    Pyramid Way Back Open After Fatal Crash

    Monday, November 20 2017 12:49 AM EST2017-11-20 05:49:25 GMT

    The Nevada Highway Patrol says one man is dead after being hit by an SUV on Pyramid Way Sunday night.

    More >>

    The Nevada Highway Patrol says one man is dead after being hit by an SUV on Pyramid Way Sunday night.

    More >>
Powered by Frankly
All content © Copyright 2000 - 2017 Sarkes Tarzian, Inc. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.