A new form has been created (Report of Destroyed Real Property, Form 425), pursuant to 2019 Neb. Law LB 512. Please review the instructions on the Form 425.
The Form 425 is to be used by owners of real property whose property has suffered significant property damage as a result of a calamity occurring on or after January 1 and before July 1 of the current assessment year. The property owner may file the Form 425 with the county assessor and the county clerk on or before July 15.
A calamity is defined as a disastrous event, including, but not limited to, a fire, an earthquake, a flood, a tornado, or other natural event which significantly affects the assessed value of the property. Destroyed real property does not include property suffering significant property damage that is caused by the owner of the property.
Destroyed Property Form 425
Destroyed Property FAQs
PAD News Release Regarding Form 425
LB 512 (Destroyed Property Bill)