Nebraskans are now receiving their new property valuation notices and many are suffering from sticker shock once they see how much the value of their property has increased since last year. Mine, for example, went up 40%! Other property owners are seeing their valuations increase by as much as 50%.
What these property valuation notices demonstrate is how broken Nebraska’s tax system is. To be sure, you can bet your last dollar that the tax levies won’t decrease by the same percentage as your valuation increases, in order to keep your property tax payment the same as last year.
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