Property Tax Return Deadline April 1

Property Returns – Has Your Value Changed?

In Douglas County, the deadline to file your PT-50R real property return is April 1st. This is also the deadline to file for homestead exemptions.
Returns must be filed if:

• You purchased or acquired property during the previous year;
• You made any changes during the previous year that would affect the value of your property, such as building or demolishing a house, remodeling, adding pools and decks, etc.;
• You wish to split or combine parcels;

Failing to file a return when required by the deadline will incur a 10% assessment penalty on the unreturned property plus interest at 1% per month, and possibly penalties from the date the tax would be due.
Returns should be filed if:

You wish the Tax Assessors to review the assessed value of your property.

If no changes have been made to previously owned property, and no return is filed, the value of the property from the previous year is automatically claimed as the returned value.  This also means if the Board of Assessors does not change your value from last year, you have already lost any chance to appeal your value. Therefore it is important for you to file a return if you feel the value of your property has changed.

Homestead Exemptions – Saves Hundreds of $$$$ on Property Taxes!

The deadline for filing for a homestead exemption in Douglas County is April 1. Application for homestead exemption is made with the Tax Commissioner in the county. Failure to apply by the deadline will result in loss of the exemption for that year.

Generally, a homeowner is entitled to a homestead exemption on their home and land underneath provided the home was owned by the homeowner and was their legal residence as of January 1 of the taxable year.

To be granted a homestead exemption, a person must actually occupy the home, and the home is considered their legal residence for all purposes.  Persons that are away from their home because of health reasons will not be denied homestead exemption.  A family member or friend can notify the tax receiver or tax commissioner and the homestead exemption will be granted.

Additional Homestead Exemption – Homestead Valuation Freeze

Douglas County voted into law a county exemption that increases as your property is revalued by the Board of Assessors due to the market value. This new exemption applies only to the county portion of your tax bill (does not affect state, school or city tax) and applies only to your personal home. Your county exemption will go up to offset the revaluation amount beginning in the year 2002. Many refer to this exemption as a “tax freeze.” Any improvements to your property will not fall under this new law and will result in an increased assessment on your home.  Lock in your value now, while home values are low!

This information has been provided by
Douglas County Taxpayers Coalition

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