Nebraska Administrative Code
Topic - REVENUE, DEPARTMENT OF
Title 350 - Nebraska Department of Revenue, Property Assessment Division
Chapter 23 - Historical Real Property Regulations
Section 350-23-001 - DEFINITIONS

Universal Citation: 350 NE Admin Rules and Regs ch 23 ยง 001

Current through September 17, 2024

001.01 Base value

Base value shall mean the assessed valuation of historically significant real property in the assessment year the preliminary certificate of rehabilitation was issued last certified by the assessor pursuant to Neb. Rev. Stat. Section 13-509 or as finally determined if appealed.

001.02 Historically significant property

Historically significant property shall mean real property that is:

001.02A Listed in the National Register of Historic Places;

001.02B Located within a district listed in the National Register of Historic Places that has been determined to be historically significant as determined by the State Historic Preservation Officer;

001.02C Property that has been individually designated as historically significant pursuant to a local landmark ordinance or resolution that has been approved by the State Historic Preservation Officer; or

001.02D Located within a district designated pursuant to a local landmark ordinance or resolution approved by the State Historic Preservation Officer and that is historically significant as determined by the State Historic Preservation Officer.

001.03 Final Certificate of Rehabilitation

Final Certificate of Rehabilitation shall mean a certificate issued by the State Historic Preservation Officer determining that the rehabilitation of a property meets the Standards for Rehabilitation described in 36 C.F.R. 67.7, as such regulation existed on January 1, 2005.

001.04 Preliminary Certificate of Rehabilitation

Preliminary Certificate of Rehabilitation shall mean a certificate issued by the State Historic Preservation Officer determining that a property is qualified for historic preservation valuation, the proposed rehabilitation meets the Standards for Rehabilitation described in 36 C.F.R. 67.7, as such regulation existed on January 1, 2005 and the proposed rehabilitation is a substantial rehabilitation.

001.05 Substantial Rehabilitation

Substantial Rehabilitation shall mean interior or exterior rehabilitation work that preserves the historically significant real property in a manner that significantly improves its condition and costs an amount equal to or greater than twenty-five percent of the assessed valuation of the property as certified by the assessor and contained in the application for a preliminary certificate of rehabilitation filed with the State Historic Preservation Officer.

001.06 Historically significant valuation period is the eight assessment years following the issuance of the final certificate of rehabilitation by the State Historic Preservation Officer, beginning in the assessment year following the issuance of the final certificate.

001.07 Actual value phase in period is the four years immediately following the conclusion of the historically significant valuation period.

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