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The contents of this bill were later amended into LB512 and passed as the Christmas Tree Bill in 2019. The bill allows property owners whose properties are destroyed or damaged to have their assessment readjusted for property tax purposes, provided the damage exceeds 20% of the property value. during the current assessment year, and the documents are filed by the deadline of July 15 of the current assessment year.

No one whose property was destroyed or damaged during the year should have to pay property taxes based on the assessment of their property on January 1 of the same year. Thus, this law makes the property tax system fair for those who might suffer from damage such as a tornado, flood or fire.

The timing of my 2019 destroyed property bill couldn’t have been better. That year, Nebraska experienced widespread flooding, and many Nebraskans saw their homes and other structures washed away by floodwaters.

Because LB512 was passed with an emergency clause, the law took effect immediately after it was signed by the Governor on May 30, 2019. As a result, many property owners were able to immediately take advantage of the new law and have their property reassessed. destroyed or damaged properties for property tax purposes. for tax purposes, saving some people thousands of dollars in taxes.

We are experiencing a similar situation this year. High winds, hail and tornadoes that swept through Nebraska this spring led to the destruction of many properties.

Therefore, property owners should be reminded of the new law so that they can complete the necessary paperwork and have their destroyed or damaged properties readjusted before the July 15 deadline. The property assessment adjustment only applies to properties that were destroyed or damaged before July. 1.

To take advantage of the new destroyed or damaged property law, property owners will need to complete and submit a Destroyed Property Report, available on the Nebraska Department of Revenue website: www.revenue.nebraska.gov. Once on the website, click on “Property Appraisal” and scroll down to “Forms and Schedules.” Click “Forms,” then click “Real and Personal Property.” Form 425 will be 10th from the top of the list.

Form 425 must be filed with the County Clerk and Assessor/Register of Deeds, and separate forms must be filed for each parcel of destroyed real property. Additional questions should be directed to the County Clerk’s Office or the Assessor/Register of Deeds Office.

This bill, which opened the way for property owners to have their destroyed or damaged properties reassessed for property tax purposes, is what I like to call “common sense legislation.” Parliament passes many laws. Most of these bills never affect the average person, but the bills that improve the lives of Nebraskans are, by far, the most important and valuable.

I hope that many property owners whose properties have been destroyed or damaged will take advantage of the Destroyed Property Act this year. It’s bad enough to have a home destroyed by a tornado, swept away by a flood, or burned to the ground by a wildfire.

My heart and prayers sincerely go out to those who have suffered such losses this year. As Nebraskans, let us remember to help our neighbors in times of crisis because, after all, it is the people of Nebraska who make Nebraska great.