Land Valuations Rise Over 12 Percent Over One Year
LINCOLN, Neb. (AP) — Authorities say bigger tax bills could follow higher land valuations in Nebraska.
Nebraska Revenue Department has reported an overall 12.45 percent
increase in the state's property valuations for 2014, pushed by a jump
of more than 29 percent in agricultural land valuations. The department
report is based on 2014 property abstracts of assessments filed by
assessors in Nebraska's 93 counties.
Creighton University economist Ernie Goss stated that property tax increases just raise farmers' and ranchers' costs
of production but don't add anything to their bottom lines.
Local taxing bodies will have to decide whether the increased valuations will lead to any changes in local tax rates.