LINCOLN - The Nebraska Department of Revenue has released a new form for those who have suffered significant property damage.
Property Tax Administrator Ruth Sorensen tells News Talk WJAG Form 425 is pursuant to the recently passed LB 512.
Sorensen says the form is used for owners of real property whose property has been damaged by a calamity like a fire, tornado, or flood.
She says the damage had to occur between January 1st and July 1st of the assessment year.
Sorensen says a calamity is defined as a disastrous event including, a fire, a tornado, or flood that significantly affects the assessed value of the property.
She says the new law allows damaged properties to get reassessed for property tax purposes and then taxed on the new valuation.
You need to return the form back to the county assessor and county clerk on or before July 15.