Nebraska statute requires assessed values be updated annually to reflect market value. Residential and commercial values are to range from 92%-100% of market value. The sales period is from Oct. 1, 2018 to Sept. 30, 2021 for commercial and agricultural sales and 10/1/201 to 9/30/2021 for residential sales. This means sales occurring during this time frame influence valuations.
Alliance
Revalued mobile home parks due to sales using income approach to value with updated lot rents. Alliance Residential was adjusted with a 9% increase to house value only on Bi-Levels, Split Levels, and One Story 1959 or newer.
Hemingford
Six-year reappraisal was implemented and completed prior to Jan. 1, 2022. Preliminary notices went out to property owners in January. All lots, residential and commercial were revalued per sales of vacant lots. Commercial properties were revalued using the cost approach and using age depreciation. Residential properties were revalued using market depreciation.
Rural
Market Area 3 Dry land use received a 6% increase to the upper classifications of dry land and a 12% increase to the lower classifications of dry land. No other changes were made for rural properties outside of pickup work.
Change of value notices were mailed out by June 1 to owners of record as of May 20, 2022 per state statute. Valuation questions can be answered in the assessor’s office by stopping by at 515 Box Butte Ave, Suite 102 or calling 762-6100 Monday through Friday 8 a.m.-4 p.m.
Dates for filing valuation protests are June 1 through June 30. Property owners can only protest the value and not the taxes. The assessor’s office is responsible for valuations and not taxes.
The information publication provided by IAAO answers many common questions and concerns.