The Importance of Property Valuation Protests in Nebraska and How a Good Attorney Can Help You Navigate the Process
By Shaun James, Attorney, Smith Pauley
If you own property in the state of Nebraska, this may be the most valuable three minutes you spend today learning about your rights during the upcoming valuation protest period June 1-30. Notices of increases are sent in late May to inform owners their property value has changed.
Property valuation is an essential aspect of property ownership in Nebraska. It is crucial for property owners to understand their rights regarding property valuation protests, especially when they believe their property has been inaccurately valued. In this post, I examine the importance of property valuation protests in Nebraska and how a good attorney can help guide you through the complex process.
The Importance of Property Valuation Protests in Nebraska
Ensuring Fair Property Taxes - Property taxes in Nebraska are based on the assessed value of your property. By ensuring that your property is accurately valued, you can avoid paying more property taxes than you should.
Equity Among Property Owners - A fair and accurate property valuation system ensures that all property owners in Nebraska are assessed equitably. This helps maintain fairness in the property tax system, which is critical for maintaining trust in the government's ability to administer taxes.
Protecting Your Investment - As a property owner, you have a significant investment in your property. By challenging inaccurate valuations, you can protect the value of your investment and maintain your property's marketability.
Where an Attorney Can Help
Navigating the property valuation protest process in Nebraska can be complex and challenging. Hiring a qualified attorney with experience in property valuation protests can provide you with valuable assistance throughout the process.
Evaluating Your Property Valuation - An experienced attorney can help you evaluate the accuracy of your property's assessed value. They can review the assessor's methods and calculations to identify potential errors or discrepancies that may have led to an inaccurate valuation.
Preparing Your Case - If you decide to file a protest, an attorney can help you build a strong case. They can gather necessary documentation, including comparable sales data, expert opinions, and other relevant evidence, to support your claim that your property has been inaccurately valued.
Representing You at the Protest Hearing - In Nebraska, property valuation protests are heard by the county board of equalization. A knowledgeable attorney can represent you at the hearing, ensuring that your case is presented clearly and effectively. They can also help you navigate the rules and procedures of the hearing, giving you the best chance of success.
Appealing to the State - If your protest is not successful at the county level, you may choose to appeal to the Nebraska Tax Equalization and Review Commission (TERC). An attorney can assist you in preparing and filing the necessary paperwork and guide you through the state-level appeal process. Once the county board of equalization finalizes values, there is a limited time period in which to appeal the decision. This period varies depending on where the property is located.
Property valuation protests in Nebraska play a critical role in ensuring that property owners are assessed fairly and accurately for tax purposes. By understanding your rights and working with a skilled attorney, you can ensure that your property is valued correctly, helping you avoid unnecessary tax burdens and protect your investment.
If you believe your property has been inaccurately valued, we at Smith Pauley are here to help. Contact us today at 402-392-0101.
Shaun James is an attorney with Smith Pauley. Prior to entering the practice of law, she was an administrative professional in the non-profit arts industry serving the greater Omaha metropolitan area. Her experience in the non-profit world provided her with unique opportunities to work with city, county, state and federal officials and agencies, as well as key members of the business community. She focuses her practice on real estate areas and works regularly with public officials, contractors, and outside professionals to assist clients achieve their goals in the use, development, financing and valuation of their property.