Report of Destroyed Real Property
Timeline & General Information
|DATE||EVENT||NOTIFICATION - ACTION|
|Between January 1 - June 30||Real property is destroyed|
Destroyed real property means real property that suffered significant property damage as a result of a calamity occurring on or after Janaury 1 and before July 1 of the current assessment year.
Destroyed real property does not include property suffering significant property damage that is caused by the owner of the property or an occupant of leased property.
Calamity means a disastrous event, including but not limited to, a fire, an earthquake, a flood, a tornado, or other natural event which significantly affects the assessed value of the real property.Significant property damage means:
|Between January 1 and July 15 Note: Forms received prior to January 1 or postmarked after July 15 (or the next business day if July 15 falls on a weekend or holiday) cannot be received as timely filed.||Owner files Form 425|
Who May File
An owner of real property that became destroyed on or after Janaury 1 and before July 1 of the current assessment year.
Supporting Documentation If filing a Report of Destroyed Real Property, please include supporting documentation. Supporting documentation can include (but not limited to) any photographs, reports, damage estimates, repair estimtates, insurance documents, or other documents you wish to be considered by the Lancaster County Board of Equalization in making any adjustment in value.
Dismissal Failure to adequately identify the destroyed real property or not describing the damage may result in dismissal of the report.
Form for Report of Destroyed Real Property To access the form for Report of Destroyed Real Property, click on the link below:
Form 425 - Report of Destroyed Real Property
|On or after June 1 and on or before August 10||Lancaster County Board of Equalization determines values||The Board of Equalization will take action on or before August 10. Notice of the reassessment value for destroyed real property will be mailed to the property owner.
|Within 30 days of Valuation Notice||Protest to the Lancaster County Board of Equalization||
If you disagree with the reassessment value for destroyed real property, you must file a valuation protest with the Lancaster County Clerk within 30 days of the notice of the reassessment value for destroyed real property.
|Within 30 days after the BOE's final decision||Appeal to the Tax Equalization and Review Commission||An appeal of the action taken by the Lancaster County Board of Equalization (BOE) regarding the valuation protest of the reassessment value for destroyed real property may be appealed to the Tax Equalization and Review Commission (TERC) within thirty days after the BOE's final decision.
For more information on TERC, visit terc.nebraska.gov