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Lawmakers consider moving TIF notice deadline earlier to ease county assessor workload
Summary
Sen. Mike Jacobson told the Urban Affairs Committee LB240 would change the tax-increment financing notice deadline from Aug. 1 to on or before July 1 so county assessors have more time to compile taxable values; county and municipal groups supported the change.
Senator Mike Jacobson introduced LB240 as a targeted administrative change to Nebraska's Community Development Law. "Notices regarding the division of ad valorem taxes and TIF projects must be submitted to the county assessors by August 1st. LB240 changes the deadline to on or before July 1st," Jacobson said, explaining the shift gives assessors more time to perform assessments and prepare division calculations.
Candace Meredith, deputy director at the Nebraska Association of County Officials, told senators the July 1 date "does give them ample time to do the necessary review" so assessors can compile and certify total taxable value before the August 20 certification deadline to local governments. Lynn Rex of the League of Nebraska Municipalities also voiced support and said the change helps municipalities meet budgeting schedules.
Committee members asked practical questions about which entity submits notices (typically the city) and whether municipalities could meet a July 1 requirement; witnesses said municipalities will need to coordinate with developers but that July 1 is reasonable and aids county workflows. The bill includes an emergency clause to make the change effective upon passage. The committee did not vote on LB240 at the hearing.
