In our county, the County Board of Supervisors, acts as the Board of Equalization. So I’ve spent the last two days presiding over hearings of residents unhappy over their new valuation notices. It went well and most had good reason to schedule a hearing with us.
We had revalued some sub classes by putting on an across the board 6 or 8% increase on the whole county. Then a month ago, Nebraska’s Tax Equalization and Review Committee (TERC) slapped our county with an additional 17% increase on all rural houses. That little misguided action put many over 100% of their value. We removed that (the 17%) from many who were over 100%. We had to get the value of the buildings near 96%.
We had one protestor that explained the reason they thought their valuation increase was unjustified. A full page, of reasons on what was wrong with the house they lived in, and why no one, in their right mind could possibly consider purchasing it, if they were to ever put it on the market. The problems with the house were enormous. Then they finished their tirade with the fact they had just purchased the house a couple of years ago. As our clerk read the form, the board members looked at each other with the unspoken question on our lips. Why did they buy the house to start with??