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June 6, 2019Nebraska |  By: AP

NE homeowners can apply for flood damage tax break

Nebraska homeowners with major flood damage to their
property may be able to get a tax break using forms released by the state
Department of Revenue.

The department announced yesterday that the form is now available for residents
who qualify.

Lawmakers passed a measure this year that allows damaged properties to get
reassessed for property tax purposes. The reassessed value of a destroyed
property will become the value of the property for the whole tax year.

It's intended for owners of real property who experienced significant damage as
a result of a calamity that happened between Jan. 1 and July 1 of the current
assessment year. The property owner may file the form with the county assessor
and county clerk on or before July 15.