Section 350-12-003 - PROCEDURES003.01 Whenever there is conveyance of title or any interest in real property by a deed that must be recorded with the register of deeds, a Real Estate Transfer Statement, Form 521 must be filed. The register of deeds will process the Form 521 according to the instructions of the PTA as set forth in Title 350, Neb. Admin. Code, Chapter 52 and will immediately forward the Form 521 to the county assessor.003.02 Once the county assessor receives the Form 521 from the register of deeds, the property record file will be updated to reflect new ownership, transfer information, and changes to any other information contained within the property record file.003.03 The county assessor will forward the completed Form 521 to the Division within 45 days after the deed was recorded.003.04 The county assessor will electronically transfer the sale and property characteristic information to the Division by means of electronic data files or direct entry of information into the state sales file. The transfer must occur within 45 days following the date the deed was recorded with the register of deeds. 003.04A Any electronic transfer of data files containing sale and property characteristic information must follow the format prescribed by the Division. 003.04A(1) The formatting requirements include the order, structure, file type, and naming convention of every field and file name.003.04A(2) Specific formatting requirements are available at the Division upon request.003.04A(3) It is the responsibility of the county assessor to ensure that the specific data format is implemented by any Computer Assisted Mass Appraisal (CAMA) vendor that is used by the county. 003.04B Information about the sale of property must contain data from the Form 521 including the: 003.04B(1) County number alphabetically assigned;003.04B(2) Date of sale recorded on the Form 521 unless information obtained suggests possessory interest passed on a different date;003.04B(3) Date the deed was recorded;003.04B(4) Grantor's and grantee's name, street address, city, state, zip code, and telephone number if available;003.04B(6) Like-kind exchange purchase under section 1031 of the Internal Revenue Code;003.04B(7) Address of property;003.04B(8) Legal description of property;003.04B(9) Total purchase price including any liabilities assumed;003.04B(10) Non-real property amount included in purchase; 003.04B(11) Adjusted purchase price for real estate; 003.04B(12) Documentary stamp tax amount or exemption code number, if exempt; and 003.04B(13) Recording data, including date, book, and page number.003.04C Information about the property that sold and its characteristics must include the: 003.04C(1) Assessor location;003.04C(2) Assessed value of land, improvements, and total assessed value on date of sale;003.04C(3) County assessor comments;003.04C(4) County assessor adjustment to sale price;003.04C(5) Location identification, also referred to as parcel identification;003.04C(6) Local system or school district code as prescribed by the Division;003.04C(7) Parcel number(s), geocode, township, range, section, quarter, subdivision, area, and block;003.04C(8) Property classification code, including property type, zoning, location, city, status, and parcel size;003.04C(9) Sale usability code determination of the county assessor; and003.04C(10) Date of last inspection recorded on the property record card. 003.04D Sales of agricultural or horticultural land must include the: 003.04D(1) Agricultural land capability grouping total acres;003.04D(2) Assessed value and acres of non-agricultural land and improvements including but not limited to home site, farm site,003.04D(3) Assessed value for dwellings and outbuildings;003.04D(4) Other agricultural land acres such as shelterbelt, accretion, waste, roads, and other;003.04D(5) Non-agricultural land other acres and value not included in any other category;003.04D(6) Total agricultural land acres and value;003.04D(7) Total non-agricultural land in acres and value;003.04D(8) Total recreation in acres and value; and003.04D(9) Total wetland in acres and value.003.04E Sales of residential parcels must include the: 003.04E(1) Number of improvements;003.04E(2) Quality of construction, and the condition of the property;003.04E(3) Square footage of primary structure; and003.04E(4) Year built, building cost new, and style of residence (single family, townhouse, or duplex).003.04F Sales of commercial parcels must include the: 003.04F(1) Square footage of primary structure, condition of property, construction class type, date of construction, building cost new, and cost rank of construction quality;003.04F(2) Occupancy code(s); and003.04F(3) Number of improvements. 003.04G When the need arises to update or change the data that is collected for the sales file the PTA may issue a Directive.003.05 Upon electronic receipt of the sale and property characteristic data, the Division will import the data into the state sales file. The Division will ensure complete filings by periodically comparing the Forms 521 received from the county to those included in the state sales file.003.06 The county assessor will maintain current characteristic information on all sales in the state sales file and update any changes as they are discovered.003.07 The Division may include additional codes or narrative comments to individual sales to aid in identification or analysis, such as valuation grouping codes, or comments to identify unique properties.003.08 The county assessor may request a deviation from specific requirement of the electronic submission of sales information. The request must be in writing to the PTA, state the reasons for the deviation and be filed before a submission is sent. The PTA will grant or deny the request for deviation in writing stating the reasons for the action. Neb. Rev. Stat. §§ 77-702, 77-1327, 77-1371, 77-1377, 77-5027, and 79-1016.
350 Neb. Admin. Code, ch. 12, § 003