Personal Property Tax Relief Act Eliminated Starting This Tax Year
A new law that became effective earlier this year eliminated property tax provisions related to notice of preliminary valuations.
Legislative Bill 1107, signed this summer by Gov. Pete Ricketts, eliminates the Personal Property Tax Relief Act beginning in tax year 2020, Douglas County Assessor/Register of Deeds Diane Battiato said in a news release.
“Specifically, this law removes the $10,000 exemption applied to the value reported on personal-property returns,” Battiato said. “Consequently, taxpayers filing a personal-property return in 2020 will have their property tax determined based on the full value of the personal property reported on the return.”
Battiato said that, to avoid confusion, it’s important for the taxpayer to understand that the tax amount is not $10,000.
The accurate amount is $10,000 multiplied by the applicable tax rate, which will vary by tax district. Battiato said that the new legislation will impact about 9,000 business personal-property accounts in Douglas County.
Douglas County taxpayers who have questions should contact Compliance Officer Mike Goodwillie at 402-444-6703.
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