LINCOLN, Neb.- Preliminary estimates find real estate valuations have increased in the state by 3.34% from 2016 to 2017, resulting in an increase in valuation of approximately $7 billion.
The Nebraska Revenue Department has processed the 2017 Real Estate Summaries conducted by the 93 Nebraska County Assessors.
• $ 2.29 billion (31.20%) is attributable to newly constructed real estate.
• $ 5,050 million (68.80%) is attributable to increases in valuation of existing properties.
The percentage change in the value of real property by type of property is based on the total of real estate reported in each county.
Real estate valuation change notices will be mailed before June 1, 2017 to real estate owners who have real property values that have increased or decreased from 2016 to 2017.
Increases in real estate valuations could result in local tax hikes.