Owners of wildfire-damaged property have new reporting procedure

McCOOK, Neb. ­— The Red Willow County Assessor’s office has important information for Red Willow County property owners who suffered significant property damage from the recent fires.

If you have property damage that exceeds 20% of the improvement’s assessed value prior to July 1 you must file a form 425 Report of Destroyed Real Property on or before July 15. On this report, the property owner is asked to provide the date of damage that reflects when the property was damaged and any estimates of damage and supporting documentation.

If the property damage that has occurred reduces the current assessed value by more than 20%, the County Board of Equalization is responsible for determining the new value. The Property Assessment Division website contains a Destroyed Real Property Information guide and FAQ that address information about damage or destruction due to a natural disaster (including wildfires).

This form may be filed with either the County Clerk or County Assessor.

The deadline to file will not be extended. A separate Form 425 must be completed for each parcel of destroyed real property. If you have any questions, please contact the Red Willow County Assessor’s office at 308-345-4388 or email assessor@redwillowcountyne.gov.

Property owners in other counties are also encouraged to contact their local county assessor’s office for more information.