Date of this Version
Cornhusker Economics (October 23, 2013)
Sticker Shock probably could best describe Nebraska agricultural property owners’ reaction when they opened the county assessor’s letter and read the new 2013 valuation. With few exceptions, the assessed valuations on agricultural land have climbed rapidly for several years – a clear reflection of the fact that in Nebraska, agricultural land is assessed according to a set percentage of market value. With Nebraska being at the epicenter of a bullish United States agricultural land market in recent years, it is inevitable that those increases have come to bear on assessed values for property tax purposes.