Nebraska Property Taxes Explained

Nebraska levies a tax on real and personal property within the state. The tax is based on the assessed value of the property as determined by tax assessors at both the state and county level.

State Assessment

County assessors are responsible for determining the actual or market value of most real property in their jurisdiction. Actual value is defined as the price paid between a buyer and seller who are knowledgeable of the use of the property. All property must be assessed on January 1 of each year.

Real Property

Certain types of properties within the state of Nebraska fall under state jurisdiction for assessment purposes, with the property tax administrator determining the value. This includes property owned by railroad companies, public service entities, air carriers, and car line companies.

Personal Property

Nebraska also taxes tangible personal property using the property's net book value for assessment purposes. Automobiles are excluded from this category and are taxed elsewhere under Nebraska law. Livestock are also exempt, as are business inventory and ordinary household goods.

References

• Nebraska: Real Property
• Nebraska: Property Assessed By State
• Nebraska: Personal Property Taxation Summary