A more consistent approach to assessing the value of rent-restricted housing was the focus of a bill discussed in a Revenue Committee hearing Feb. 23.<\/p>\n
LB1075, introduced by Bellevue Sen. Abbie Cornett, would transfer all assessment of rent-restricted housing from county assessors to the state property tax administrator. Cornett said the issue has been a constant concern.<\/p>\n
\u201cThis issues has been before the committee almost every year I\u2019ve been here,\u201d she said. \u201cI think this deserves full discussion.\u201d<\/p>\n
Under the bill, rent-restricted housing is defined as any housing that is financed, at least in part, by low-income housing tax credits.<\/p>\n
Proponents of the bill said property valuations can vary greatly by county. Thomas Judds, representing Midwest Housing Equity Group, said the fluctuation of valuations from county to county can be restrictive for some developers.<\/p>\n
\u201cThis is the [greatest] threat to the continued investment in affordable housing in Nebraska,\u201d Judds said. \u201cThis is a hindrance for all communities across the state.\u201d<\/p>\n
Larry Dix, executive director of the Nebraska Association of County Officials, testified in a neutral capacity. He said county officials want to do what makes the most sense for the state.<\/p>\n
\u201cIf there is a belief that the administrator can value these more consistently, we don\u2019t want to stand in the way,\u201d Dix said.<\/p>\n
No one testified in opposition to the bill and the committee took no immediate action.<\/p>\n","protected":false},"excerpt":{"rendered":"
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