ALERT: Lancaster County Property Valuations

Written by Ronald L. Ecklund, CPA, CFP

According to a report provided by Lancaster County to the State of Nebraska in April, preliminary figures showed 2012 changes in average property values within Lancaster County as follows:

  • Residential land values = increase of 4.77%
  • Agricultural land values = increas of 25%
  • Commercial and industrial land valued = increase of 8.83%

On June 1, many residents in Lincoln felt the impact of these changes when they received a letter from the County Clerk’s Office containing their revised property valuation. While some property owners saw a decrease in their valuation, roughly two-thirds of those with adjusted valuations saw a substantial increase. Because the valuation assigned to each property helps determine how much owners pay in property taxes, a considerable increase can be very difficult to accept without understanding the details surrounding the reassigned valued.

Property owners can view their 2012 values online by searching by address or owner at www.lancaster.ne.gov/assessor/index.htm. For a limited time, owners who are unsatisfied with their recent valuation can file a protest with the County Clerk’s Office. Protests can be filed electronically at www.Lancaster.NE.gov/clerk/prop.htm.

The deadline for filing a protest is July 2.

If you are a property owner who feels that your recent property valuation is inappropriate and are considering filing an appeal, it’s important to note the following guidelines:

  1. Ensure you have solid evidence to support your protest. Independent appraisals, recent comparable property sales in your area (similar style, square footage, amenities), and photos showing your property’s condition will be critical during the review process.
  2. The information listed above, which will be needed to support your protest, can be found for FREE on the county assessor’s website.
  3. Events such as fire or remodeling that occurred at the property after January 1, 2012, are not considered in this year’s valuation.

HBE can help you file a protest if you feel that your reassigned property value is inappropriate. For additional information and guidance, please contact our office at 402.423.4343.

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