Nebraska § 77-1233.04 Taxable tangible
personal property tax returns; change in value; omitted property; procedure;
penalty; county assessor; duties

Nebraska Statutes

§ 77-1233.04 — Taxable tangible personal property tax returns; change in value; omitted property; procedure; penalty; county assessor; duties

Nebraska § 77-1233.04

Ch. 77Revenue and Taxation

This text of Nebraska § 77-1233.04 (Taxable tangible personal property tax returns; change in value; omitted property; procedure; penalty; county assessor; duties) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 77-1233.04 (2026).

Text

(1)The county assessor shall list and value at net book value any item of taxable tangible personal property omitted from a personal property return of any taxpayer. The county assessor shall change the reported valuation of any item of taxable tangible personal property listed on the return to conform the valuation to net book value. If a taxpayer fails or refuses to file a personal property return, the assessor shall, on behalf of the taxpayer, file a personal property return which shall list and value all of the taxpayer's taxable tangible personal property at net book value. The county assessor shall list or change the valuation of any item of taxable tangible personal property for the current taxing period and the three previous taxing periods or any taxing period included therein. (

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(1) The county assessor
shall list and value at net book value any item of taxable tangible personal
property omitted from a personal property return of any taxpayer. The county
assessor shall change the reported valuation of any item of taxable tangible
personal property listed on the return to conform the valuation to net book
value. If a taxpayer fails or refuses to file a personal property return,
the assessor shall, on behalf of the taxpayer, file a personal property return
which shall list and value all of the taxpayer's taxable tangible personal
property at net book value. The county assessor shall list or change the valuation
of any item of taxable tangible personal property for the current taxing period
and the three previous taxing periods or any taxing period included therein.
(2) The taxable tangible personal property so listed and valued shall
be taxed at the same rate as would have been imposed upon the property in
the tax district in which the property should have been returned for taxation.
(3) Any valuation added to a personal property return or added through
the filing of a personal property return, after May 1 and on or before June 30 of the year the property is required
to be reported, shall be subject to a penalty of ten percent of the tax due
on the value added.
(4) Any valuation added to a personal property return or added through
the filing of a personal property return, on or after July
1 of the year the property is required to be reported, shall be
subject to a penalty of twenty-five percent of the tax due on the value added.
(5) Interest shall be assessed upon both the tax and the penalty at
the rate specified in section 45-104.01 , as such rate may from time to time
be adjusted by the Legislature, from the date the tax would have been delinquent
until paid.
(6) Whenever valuation changes are made to a personal property return
or a personal property return is filed pursuant to this section, the county
assessor shall correct the assessment roll and tax list, if necessary, to
reflect such changes. Such corrections shall be made for the current taxing
period and the three previous taxing periods or any taxing period included
therein. If the change results in a decreased taxable valuation on the personal
property return and the personal property tax has been paid prior to a correction
pursuant to this section, the taxpayer may request a refund of the tax in
the same manner prescribed in section 77-1734.01 , except that such request
shall be made within three years after the date the tax was due.

Legislative History

Source: Laws 1947, c. 250, § 42, p. 805; Laws 1965, c. 474, § 1, p. 1526; Laws 1965, c. 475, § 2, p. 1530; Laws 1967, c. 499, § 1, p. 1692; Laws 1980, LB 834, § 59; Laws 1981, LB 167, § 39; Laws 1984, LB 835, § 4; Laws 1987, LB 508, § 11; R.S.Supp.,1988, § 77-412; Laws 1990, LB 821, § 47; Laws 1992, LB 1063, § 102; Laws 1992, Second Spec. Sess., LB 1, § 75; Laws 1995, LB 490, § 93; Laws 1997, LB 270, § 53; Laws 1999, LB 194, § 12; Laws 2000, LB 968, § 44; Laws 2007, LB166, § 5; Laws 2008, LB965, § 11; Laws 2013, LB28, § 1. Annotations: This section and section 77-1233.06 control a taxpayer's appeal from a decision of a county board of equalization to the Tax Equalization and Review Commission when a county assessor changes a taxpayer's reported valuation of personal property to conform to net book value. Prime Alliance Bank v. Lincoln Cty. Bd. of Equal., 283 Neb. 732, 811 N.W.2d 690 (2012). To sustain an addition to a tax return as omitted property, it must appear that specific items were added, not just revalued. Sealtest Central Division-Omaha, Kraftco Corp. v. Douglas County Board of Equalization, 193 Neb. 809, 229 N.W.2d 545 (1975). In order to perfect an appeal to the district court from a county board of equalization, all activities necessary, including the filing of notice of appeal, must be carried out within forty-five days of the adjournment of the board. Knoefler Honey Farms v. County of Sherman, 193 Neb. 95, 225 N.W.2d 855 (1975).