This year the Nebraska Legislature passed LB 512 which provides property tax relief to owners of real property adversely affected by natural disasters on or after January 1 and before July 1. In order to qualify, the property owner must file Form 425 with the county assessor and the county clerk on or before July 15. Click Here to be directed to the Form 425 on the Nebraska Department of Revenue’s website.
From the Department of Revenue
The Department of Revenue, Property Assessment Division, has posted a new form to the website for Report of Destroyed Real Property, Form 425, pursuant to 2019 Neb. Law LB 512.
For real property that has suffered significant damage as a result of a calamity occurring on or after January 1 and before July 1 of the current assessment year, the property owner may file the Report of Destroyed Real Property with the county assessor and the county clerk on or before July 15. The county board of equalization will consider the report to determine any adjustments to the assessed value for the current year.
Calamity means a disastrous event, including but not limited to, a fire, an earthquake, a flood, a tornado, or other natural event which significantly affects the assessed value of the property.
If you have any questions, please contact the Nebraska Department of RevenuePolicy/Legal Section of the Property Assessment Division. at (402) 471-5984