Property owners who have sustained damage with a replacement or repair value that exceeds 20% of their assessed value may be eligible to receive a reduction in their property valuation.
Preliminary assessed valuations increased on about 45% of Lancaster County homes this year, an effort by the county assessor to adjust homes to the current market rate.
Legislators introduced a bill (LB1217) that tweaks how county assessors determine values certain low-income housing projects, avoiding problems that resulted in skyrocketing values for some Lancaster County properties last year.