Nebraska ~ Property Tax: Directive Issued on Administration of Property Tax Credit

CCH Tax Day Report

The Nebraska Department of Revenue has issued a directive in order to advise county assessors and treasurers of their responsibilities for administering the Property Tax Credit Act. Beginning tax year 2017, two Nebraska property tax credit rates will exist—one tax credit rate will be for all real property other than land classified as agricultural and horticultural land or agricultural and horticultural land receiving special valuation, and the second tax credit rate will be for real property classified as agricultural and horticultural land or agricultural and horticultural land receiving special valuation referred to as the “agricultural land credit.” The agricultural land credit is only applicable to the portion of the real property parcel classified as agricultural and horticultural land and agricultural and horticultural land receiving special valuation. The directive states that the agricultural land credit is not applicable to any other portion of the real property parcel such as site land or improvements or buildings, and provides examples.

Directive 16-2, Nebraska Department of Revenue, December 9, 2016, ¶201-260

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