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Board of Equalization passes resolution on property valuation

Posted at 6:18 AM, Jan 31, 2017
and last updated 2017-01-31 18:34:30-05

UPDATE: (11:45am): The Board of Equalization passes resolution to change 2017 prelim property valuations so increases in residential valuations won't go over 3 percent. The resolution is a guideline for the Assessor's Office, which is mandated to follow certain protocol from the state. 

 

The Douglas county board are meeting Tuesday morning at 9:00 a.m. to look at a proposal to put the brakes on property valuation hikes.

This comes after homeowners have expressed outrage after preliminary 2017 property valuations showed large tax increases.

Homeowners are experiencing sticker shock.

Now, three commissioners have put together a measure limiting increases to three-percent.

Omaha mayor Jean Stothert is backing this measure.

Some properties have only gone up 5% while others have skyrocketed.

In one example, a home near 144th and Center is assessed at four point five million dollars.

That’s up from it's $160,000 dollar assessment last year.

The Douglas County Assessor's Office says the property valuations are based on a formula which determines market value using sales of similar properties in the area.
 
The state determines the guidelines - the Assessor's Office crunches the numbers to determine the value.
 
"The 99 percent was reflective of the market trends. The market trends are obviously too high for a palatable situation which what we understand but that's where we had to start for preliminary valuations" said County Assessor/Register of Deeds Diane Battiato. 

Douglas County Board of Commissioners chair Mary Ann Borgeson said recent property tax assessment increases have the county working to try and find answers.

She said the county wants to work with its assessor and even get legislators involved.

Next Tuesday, the Board of Equalization will consider yet another non-binding resolution that would set 2017 property valuations at 94 percent of market value. It currently sits at 99 percent. 
 
State law requires property to be valued at 92 to 100 percent of the market value.

If you feel your property has been valued incorrectly, you can do the following: 

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