TOPICS AND INSIGHT THAT AFFECT OUR MEMBERS

Understanding Your Valuation

Real property must be valued uniformly and proportionately in Nebraska. All property in Nebraska is subject to property tax, unless an exemption is mandated or permitted by the Nebraska Constitution or by legislation. Real property is assessed each year as of January 1, at 12:01 a.m.

The county assessor is required to inspect all parcels of real property in the county no less frequently than every six years. Nebraska Revised Statute 77-1311.03 The Washington County Assessor’s Office will be continuing the 6-year review process of the county pursuant to Nebraska State statute 77-1311.03. If a property owner has questions or concerns, please call the Assessor’s Office at 402-426-6800. The office staff will be checking the records and updating the photos of parcels in the southeastern area of the county as well as the northern half of the county this year.

Why do Property valuations change? There are a variety of reason, including but not limited to:

• Fluctuations in current market trends and conditions

• Additions of new improvements

• Remodels or rehabilitations of existing improvements

• Destruction or removal of improvements

• Positive or adverse outside influences upon the property

• An order for value increases mandated by the Tax Equalization and Review Commission

The Property Tax Administrator at the state shall annually make and issue comprehensive assessment ratio studies of the average level of assessment, the degree of assessment uniformity, and the overall compliance with assessment requirements for each major class of real property subject to the property tax in each county. The assessment ratio studies shall be developed in compliance with professionally accepted mass appraisal techniques and shall use statistics deemed appropriate by the Property Tax Administrator. These are based upon the sales file used by the Property Tax Administrator for the analysis of the level of value and quality of assessment for purposes (please refer to section 77-5027). The commission shall, raise or lower the valuation of any class or subclass of real property in a county when it is necessary to achieve equalization (please refer to section 77-5026). As mentioned in section 77-5023 an acceptable range of variation for agricultural and horticultural land is 69-75% of actual value; and all other real property is 92-100% of actual value. (section 77-102 Actual value defined- Actual value of real property for purposes of taxation means the market value of real property in the ordinary course of trade,)

Tax rates are established as a result of a budgetary process. Each governmental agency provides a budget that will cover the cost of maintaining their respective agency for a fiscal year. The budget requirements are totaled, and that amount is divided by the total assessed value of property for that subdivision to establish the tax rate. The tax rate is stated as a percent or amount due for each $100 of assessed value. THE COUNTY ASSESSOR IS NOT RESPONSIBLE FOR ESTABLISHING THE TAX RATE. The assessed value determines your proportion of the requested budgets; for this reason, we strongly encourage residents to attend local budget meetings.

How can we Help?

• Homestead exemption: Homestead exemptions provide relief from property taxes by exempting all or a portion of the valuation of the homestead from taxation. You may file for a homestead exemption if you are over age 65, certain disabled individuals, or certain disabled veterans and their widows or widowers, and are owner/occupant on record of property. You may file for an exemption between Feb 2nd and June 30th of each year.

• Owners of agricultural or horticultural land exceeding 5 acres may apply for special valuation between Jan 1st and June 30th to offset the impact of urban development or other non-agricultural influences. Special valuation provides for a taxable value based on 75% of the actual value of land for agricultural or horticultural purposes or uses only.

A few reminders:

• Personal Property Returns need to be into the Assessor’s office by May 1st to avoid Penalty.

• Homestead Applications are due by June 30th.

• If you feel there has been an error in your assessment, please visit with the Assessor. Remember, it is the property owner’s responsibility to report changes in usage or removal, remodeling, or additions of structures.

Washington County Assessor,

Robin Andreasen

SBA Economic Injury Disaster Loans Available to Nebraska Small Businesses

Disaster Field Operations Center West

Release Date: Oct. 3, 2022Contact: Mark W. Randle, (916) 735-1500, Mark.Randle@sba.gov
Release Number: NE 17662-01Follow us on Twitter, Facebook, Blogs & Instagram

SBA Economic Injury Disaster Loans Available to Nebraska Small Businesses

SACRAMENTO, Calif. – Small nonfarm businesses in four Nebraska counties and neighboring counties in Iowa are now eligible to apply for low‑interest federal disaster loans from the U.S. Small Business Administration, announced Director Tanya N. Garfield of SBA’s Disaster Field Operations Center-West. These loans offset economic losses because of reduced revenues caused by drought in the following primary county that began Aug. 2, 2022.

Primary Nebraska county: Washington;

Neighboring Nebraska counties: Burt, Dodge and Douglas;

Neighboring Iowa counties: Harrison and Pottawattamie.

“SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster,” Garfield said.

Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.

“Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 3.04 percent for businesses and 1.875 percent for private nonprofit organizations, a maximum term of 30 years and are available to small businesses and most private nonprofits without the financial ability to offset the adverse impact without hardship,” Garfield said.

By law, SBA makes Economic Injury Disaster Loans available when the U.S. Secretary of Agriculture designates an agricultural disaster. The Secretary declared this disaster on Sept. 26, 2022.

Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration. However, nurseries are eligible for SBA disaster assistance in drought disasters.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to apply for economic injury is May 26, 2023.

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About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.