2005: Property Tax Provisions

 

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and Educational Opportunities Support Act (TEEOSA)
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Property Tax Provisions

LB 263 (2005) represented the annual technical cleanup bill brought to the Revenue Committee by the Property Tax Administrator (PTA) to improve the administration of the property tax. ;nbsp;In relation to the school finance formula, the measure amended the existing law relevant to non-appealable corrections of adjusted valuation.

Document Archive
LB 263: Changes to various property tax provisions
 
Bill Summary Statement of Intent
Chronology Hearing Transcripts
Com. Statement Exec. Session Votes
Introduced Bill Slip Law
 
Fiscal Note:;nbsp;;nbsp; Jan. 14, 2005
 
Floor Transcripts:;nbsp;;nbsp; ;nbsp;
General File;nbsp;;nbsp; Feb. 3, 2005
Select File;nbsp;;nbsp; Feb. 22, 2005
Final Reading;nbsp;;nbsp; Mar. 3, 2005

Under prior law, a local system or county official may file, on or before June 30th of the year following the certification of adjusted valuation, a written request to the PTA for a non-appealable correction of the adjusted valuation due to changes to the tax list that change the assessed value of taxable property. ;nbsp;Upon filing the written request, the PTA must then require the county assessor to recertify the taxable valuation by school district in the county. ;nbsp;The recertified valuation would be the valuation that was certified on the tax list increased or decreased by changes to the tax list that change the assessed value of taxable property in the school district in the county in the prior assessment year. ;nbsp;The law provided that, on or before the following July 31st, the PTA must either approve or deny the request and, if approved, certify the corrected adjusted valuations resulting from such action to the Department of Education. ;nbsp;LB 263 changed the filing deadline from June 30th to May 31st in order to better facilitate the process.1

Table 177. ;nbsp;Summary of Modifications to TEEOSA
as per LB 263 (2005)

Bill
Sec.
Statute
Sec.
Revised
Catch Line
Description of Change
16 79-1016 Adjusted valuation; how established; objections; filing; appeal; notice; correction due to clerical error; injunction prohibited Changed a filing date for the non-appealable corrections of adjusted valuation for purposes of the state aid formula from June 30 to May 31.

Source: ;nbsp;Legislative Bill 263, in Laws of Nebraska, Ninety-Ninth Legislature, First Session, 2005, Session Laws, comp. Patrick J. O'Donnell, Clerk of the Legislature (Lincoln, Nebr.: by authority of John Gale, Secretary of State), § 16, p. 6 (439).


1 Legislative Bill 263, in Laws of Nebraska, Ninety-Ninth Legislature, First Session, 2005, Session Laws, comp. Patrick J. O'Donnell, Clerk of the Legislature (Lincoln, Nebr.: by authority of John Gale, Secretary of State), § 16, p. 6 (439).

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