New Property Valuations Soon to Be Finalized

BEATRICE – It’s that time of year people in the property assessment profession likely dread….the setting of new valuations for the coming year.

Skyrocketing agriculture valuations that have been a key factor in the state’s property tax anger, have leveled off, or are declining.  Now, some homeowners in he mid-price range of houses are likely to see increases.

Gage County Assessor Patti Milligan says assessors don’t just pick numbers out of the air, when deciding where valuations will be set.

:12                  “what’s happening”

Milligan says the market in sales of mid-price range homes has been strong, and that is likely to drive some increase in valuations.

:15                  “moving as well”

Milligan expects to see protests on property valuation this year….but this time it won’t be as much on the agriculture side, but in residential or commercial.

The median valuation level for residential and commercial properties by law, must fall between 92 and 100 percent of full market value.  On residential, Milligan says it’s now at about 89 percent.

She says a decline in overall agriculture valuation and an increase on the residential or commercial side, may keep overall valuation stable, this year.

:04                  “a little bit better”

Nebraska County Assessor’s Offices must have their new valuations turned in by March 19th.

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