Introduced by Scott Price from District 3 (Bellevue) , this is a bill to establish property valuation fairness in the newly created Learning Community that covers Douglas and Sarpy counties. This new political subdivision has the power to levy taxes on property owners in the two counties on behalf of the school districts.
Currently, Douglas and Sarpy counties vary widely in their property tax assessments methods. While Sarpy County adjusts property values county-wide every year, Douglas only adjusts property values for a section of the county each year, meaning that the average property owner sees a change in their valuation once every four or five years. This produces a wide disparity between the two counties that results in Sarpy County residents paying taxes on higher property valuations in any given year than most Doulgas county residents in homes of the same market value.
Since the Learning Community will be levying taxes on the properties in the two counties, it’s only fair that everyone’s property is assessed in the same way and this bill is an attempt to achieve that.
I don’t see this bill on the hearing schedule yet, but I am informed that it is slated to be heard by the Revenue Committee on March 26th.