Section 350-17-003 - REPORT AND OPINION003.01 On or before March 19, in counties with a population of less than 150,000 inhabitants, the county assessor must complete and certify the County Abstract of Assessment Report for Real Property (Real Property County Abstract) to the Division. For counties with a population of at least 150,000 inhabitants, the county assessor must complete and certify the Real Property County Abstract on or before March 25. 003.02 The PTA must certify the Report and Opinion for real property in each county to the TERC on or before 19 days following the final filing due date for the Real Property County Abstract, or on or before 15 days following the final filing date for the Real Property County Abstract in counties with population of at least 150,000 inhabitants. Each county assessor will be provided an electronic copy of the Report and Opinion for that county. 003.03 The narrative portion of the Report and Opinion will be designed to ascertain, on an ongoing basis, whether the assessments in each county comply with Nebraska law, achieve actual value, and are applied uniformly and proportionately to real property in the county. The information contained in the narrative will be developed by the Division using information gathered by the Division that includes: 003.03A Information regarding the actions and procedures used by county assessors to accomplish their assessment responsibilities;003.03B Sales review procedures used in each county to determine whether, for valuation purposes, sold and unsold real property is treated in the same manner; 003.03C Market data for each county relating to the behavior of buyers and sellers of real property; and003.03D Any other information relevant to the assessment of real property in the county.003.04 The statistical reports of the Report and Opinion are designed to assist the Division, on an ongoing basis, in determining whether each county has achieved the required level and quality of assessment for each class of property for that county. 003.05 The PTA will develop statistical reports of residential, commercial, and agricultural real property for each county. These reports are derived from the following study periods: 003.05A Residential property includes qualified improved sales of residential and recreational real property for a 2-year period between October 1 and September 30. This 2-year period ends the year prior to the assessment year for which values are established; 003.05B Commercial property includes qualified improved sales of commercial, industrial, and multi-family real property for a 3-year period between October 1 and September 30. This 3-year period ends the year prior to the assessment year for which values are established;003.05C Agricultural and Horticultural Land includes qualified unimproved and minimally improved sales of agricultural and horticultural land for a 3-year period between October 1 and September 30. This 3-year period ends the year prior to the assessment year for which values are established. Minimally-improved sales are sales in which the assessed value of the non-agricultural component (improvements and directly-associated land) is less than 5% of the sale price; and 003.05D Special Valuation of Agricultural and Horticultural Land in Fully-Influenced Counties includes qualified unimproved and minimally-improved sales of agricultural and horticultural land for a 3-year period between October 1 and September 30. This 3-year period ends the year prior to the assessment year for which values are established. 003.05E The Division may use a longer or shorter study period if the data does not accurately reflect the level of value for a county and the change to the length of the study period will enhance the Division's ability to determine the level of value for a county. The Division may adopt a longer or shorter time period based on its own information or information provided by a county pursuant to a request to adopt a longer or shorter study period. 003.05F If the county assessor disagrees with the sales used or the study periods they have an opportunity during statewide equalization to present that information to the TERC under Neb. Rev. Stat. 77-5029.003.05G The information contained in the statistical reports will be developed by the Division using qualified sales and will include: 003.05G(1) The number of sales in the sample;003.05G(2) The total assessed value of the sales;003.05G(3) The total adjusted sales price of the sale;003.05G(4) The minimum and maximum assessment sales ratios by class or subclass;003.05G(5) The average adjusted sales price by class or subclass;003.05G(6) The median, weighted mean, and median ratios;003.05G(7) The price-related differential;003.05G(8) The coefficient of dispersion;003.05G(9) The standard deviation;003.05G(10) The coefficient of variation;003.05G(11) The 95% confidence interval for each of the measures of central tendency;003.05G(12) The property type; and003.05G(13) The date range of sales used.003.06 The PTA will provide a correlation section of all information considered relevant for the determination of the level of value.003.07 The Report and Opinion will contain a special valuation study for those counties whose predominant base of agricultural or horticultural land is determined to be influenced by non-agricultural or non-horticultural factors. The study will be prepared in compliance with professionally accepted mass appraisal techniques when determining the level of assessment for agricultural and horticultural land receiving special valuation. 003.07A On or before March 1 each year, the county assessor will certify to the PTA whether the market for agricultural and horticultural land in their county has influences outside the typical agricultural and horticultural land market. In any county that has applied special valuation, the county assessor must file with the PTA the information required in Title 350 Neb. Admin. Code Chapter 11, Agricultural Land Special Valuation, as well as the methodology for determining the uninfluenced value of the land, and a methodology for determining the actual value of the land.003.08 The county report section will contain information obtained from the county during the preceding year. The information gathered for this report will include the following: 003.08A Real Property County Abstract, Form 45;003.08B The county assessor's annual plan of assessment as submitted to the Division by the county assessor pursuant to Neb. Rev. Stat. § 77-1311.02; 003.08C The Assessment Practices Survey; and 003.08D The Agricultural Land Special Valuation Methodology, if applicable.003.09 The PTA may determine that additional information is relevant when determining the level of value and the assessment practices within a county. The Report and Opinion may contain a report on topics determined by the PTA.003.10 If a county fails to file its Real Property County Abstract either by the statutory deadline or the extended deadline (if applicable), the PTA will report this information to the TERC as part of the Report and Opinion.003.11 On or before March 25 each year, a county assessor may provide written comments to the PTA to be considered for inclusion in the Report and Opinion. Neb. Rev. Stat. §§ 77-702, 77-1327, 77-1343, 77-1344, 77-1377, 77-1514, and 77-5027.
350 Neb. Admin. Code, ch. 17, § 003