Private Property Tax Reduction Act abolished for 2020; Property tax primarily based on full worth

On August 17, 2020, Governor Pete Ricketts signed Law LB1107. Since it was passed with the emergency clause, it came into effect the following day, August 18th.

One of the provisions of the bill removes the Personal Property Tax Exemption Act for the 2020 tax year and each year thereafter. This removes the $ 10,000 exemption from the value listed for personal property returns. For taxpayers filing a personal property declaration in 2020, property tax is determined based on the full value of the personal property declared in the declaration. This change will be reflected in the amount of tax due on personal property tax returns 2020 mailed to constituents in December 2020.

For questions about the amount of tax, please call Sheri Bryant, Custer County Treasurer at 308-872-2921. If you have any questions about the assessment, please contact Lana Lymber, Custer County Assessor at 308-872-2981.