The Rent-Restricted Housing Projects Valuation Committee sets the capitalization rate that county assessors use to value low income housing tax credit (“LIHTC”) projects for property tax purposes. On November 29, 2016, the Committee set the 2017 capitalization rate at 6.5 percent. The 2017 rate is the same as the 2016 […]
Dirt Alert
The Limitations Period for Inverse Condemnation Claims Starts When a Claimant Can Maintain a Lawsuit
on Monday, 19 December 2016 in
Dirt Alert: David C. Levy, Editor
Randy and Helen Strode purchased several tracts of land in Ashland, Nebraska. Between November 2002 and June 2003, the City of Ashland (the “City”) repeatedly notified Randy his use of the property to store salvage violated zoning regulations. On June 10, 2003, the City mailed him a notice of intent […]
Special Capital Gains Exclusion
on Thursday, 3 November 2016 in
Dirt Alert: David C. Levy, Editor
On October 14, 2016, the Nebraska Supreme Court held a taxpayer was eligible for the special capital gains exclusion based on a plain reading of Nebraska Revised Statutes section 77-2715.09, and the economic substance and sham transaction doctrines did not disallow the Nebraska special capital gains exclusion. The special capital […]
Additional Guidance on the Nameplate Capacity Tax
on Thursday, 3 November 2016 in
Dirt Alert: David C. Levy, Editor
The Nebraska Department of Revenue (the “Department”) recently issued additional guidance on the nameplate capacity tax. The nameplate capacity tax is imposed on a facility that generates electricity using wind, solar, biomass, and landfill gas as a fuel source. The tax is $3,518 per megawatt of nameplate capacity. Tangible personal […]
Interim Hearings Focused on Development and Financing for Solar Projects and Improvements to Energy Efficiency for Residential and Commercial Property
on Thursday, 6 October 2016 in
Dirt Alert: David C. Levy, Editor
The Nebraska Legislature’s “LR 455 Committee” recently held two interim hearings on the development of solar energy in Nebraska and a newly created program to help businesses and homeowners finance improvements in energy efficiency without any upfront costs. The LR 455 Committee, co-chaired by Senator Tyson Larson of O’Neill and […]
