Nebraska legislation · 109th Legislature
Nebraska LB501: Change provisions relating to the assessment of real property that suffers significant property damage
Status: Signed into law, April 8, 2025
What the bill says
From the introduced text:
One Hundred Ninth Legislature - First Session - 2025 Introducer's Statement of Intent LB501 Chairperson: Senator R. Brad von Gillern Committee: Revenue Date of Hearing: February 05, 2025 The following constitutes the reasons for this bill and the purposes which are sought to be accomplished thereby: Nebraska's destroyed real property reassessment laws allow property owners of destroyed properties to apply to have their properties reassessed for property tax purposes provided that the amount of destruction meets or exceeds 20% of the structure's assessed value and that the incident occurs prior to July 1 of the same calendar year. LB501 clarifies the language in Nebraska's destroyed real property reassessment laws to include all damages done to properties which are not caused by the owner of the property, such as arson. Current state statutes have been misinterpreted by lower courts to apply only to properties destroyed by a natural disaster. By changing the words 'destroyed property' to the words 'damaged property' the state statutes will better reflect and align with the original intent of Sen. Erdman's bill, LB 482 (2019), as well as the decision reached by the Nebraska Supreme Court in the case of Inland Insurance Co. v. Lancaster County Board of Equalization. The Nebraska Supreme Court ruled that the law does not apply only to situations caused "by forces of …
Sponsors
- Glen Meyer (NP, 17) · primary sponsor
Latest actions
- : Approved by Governor on April 7, 2025
- : Presented to Governor on April 3, 2025
- : President/Speaker signed
- : Passed on Final Reading with Emergency Clause 47-0-2
- : Dispensing of reading at large approved
- : Placed on Final Reading
- : Advanced to Enrollment and Review for Engrossment
- : Placed on Select File
- : Advanced to Enrollment and Review Initial
- : Placed on General File
Votes
- Final Reading (April 3, 2025): 47 yea, 0 nay, passed
- General File: ADVANCE TO E&R INITIAL (February 27, 2025): 38 yea, 0 nay, passed
Common questions
- What is LB501?
- LB501 is a bill in the Nebraska Legislature (109th Legislature): Change provisions relating to the assessment of real property that suffers significant property damage.
- What is the status of LB501?
- Signed into law as of April 8, 2025. Latest action: Approved by Governor on April 7, 2025 (April 8, 2025).
- Who sponsored LB501?
- Glen Meyer (NP, 17).
- Where is the official record for LB501?
- On the Nebraska Legislature website: https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=59550
Source: official Nebraska record. Tracked by Delilah, AI for legislation across all 50 states and Congress.