350 Neb. Admin. Code, ch. 23, § 004

Current through September 17, 2024

Section 350-23-004 - Revocation

004.01 A final certificate of rehabilitation for an historically significant property may be revoked by the State Historic Preservation Officer if the rehabilitation of the property has not been made in accordance with the standards described in 36 C.F.R. 67.7, as such regulation existed on January 1, 2005, the property is determined to be no longer of historical significance to a qualified historic district, or no longer possesses the qualifications for listing in the National Register of Historic Places.

004.01A The determination of whether a property is disqualified from receiving valuation as qualified historically significant property is made by the State Historic Preservation Officer pursuant to the rules and regulations of the State Historic Preservation Office promulgated pursuant to Neb. Rev. Stat. Section 77-1394.

004.01B If the final certificate of rehabilitation has been revoked by the State Historic Preservation Officer, the State Historic Preservation Officer shall provide written notice to the assessor.

004.02 Upon receipt of a notice from the State Historic Preservation Officer that the final certificate of rehabilitation for a property has been revoked, the assessor shall assess the property at its actual value, beginning with the assessment year following the revocation of the final certificate of rehabilitation.

004.03 In the event that a property receiving base value under a final certificate of rehabilitation is disqualified from receiving the base value due to the revocation of the final certificate, there is no recapture of taxes based on the difference between the base value and the actual value of the property.

004.04 Example of revocation

Year 1-Assessor certifies a base value of $50,000.00 for a property on the National Register of Historic Places.

Year 2-Assessor values property on January 1 at $60,000.00 and the property owner applies for and obtains a preliminary certificate of rehabilitation in June from the State Preservation Officer. Renovation begins on the property.

Year 3-Assessor values property on January 1 at $65,000.00. Renovation continues on the property.

Year 4-Assessor values property on January 1 at $65,000.00 but also applies a 10% increase ordered by the Tax Equalization and Review Commission. The assessed value of the property is now $71,500.00. The renovation work is completed and a final rehabilitation certificate is issued by the State Historic Preservation Officer.

Years 5-9 -Assessor values the property at no more than $50,000.00 (base value from year one). The assessor shall determine the actual value of the property each year and maintain records for both the actual value and certified base value for the property. Final certificate of rehabilitation is in full force and effect.

Year 10-State Historic Preservation Officer revokes final certificate of rehabilitation and notifies assessor. Assessor maintains the valuation of the property at the base year's value, $50,000.00.

Year 11-Assessor values property at actual value. If necessary the assessor shall send a Notice of Valuation Change. Taxpayer may protest value in the same manner as other real property.

350 Neb. Admin. Code, ch. 23, § 004