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Despite increase, county at the low end of farmland valuation increases

Farmland valuations went up more than 10 percent this year in Cheyenne County. But the news could be worse.

"In my county they didn't go up as much as they did in other counties," said Cheyenne County Assessor, Louella Pippitt.

Although values spiraled in Cheyenne county by a double digit margin, there are many other counties where the changes from last year to this year were much more drastic. Assessments in 16 Nebraska counties rose more than 30 percent. Farmland valuations rose the least--at 1.5 percent--in Thomas county and the most--at 40 percent--in Hamilton county. Valuations in the state rose an average of 23 percent.

In contrast, agricultural land valuations went up 13 percent from 2012 to 2013 in Cheyenne county, according to the Nebraska Department of Revenue.

"This is what's happening in Sidney," Pippitt said. "The agricultural land has changed in value."

Changes in farmland valuations were sent out by the assessor's office at the end of May.

Assessments of farmland are decided by market value of the land, so when higher demand for farmland in Cheyenne county is recorded, values trend upward, as well.

The estimates have to be within 69-75 percent of the real market value, Pippitt said.

Owners have from June 1 to June 30 to contest valuations, if they disagree with the county's judgment.

Such disputes are unusual, according to the assessor's office—though they do occur. Landowners contest the land assessments for different reasons.

But, Pippitt pointed out, “We don't move them up because we want to, they have to be within 69-75 percent."

The assessor's office uses three years worth of sales to determine what the land is worth.

"It's not fun for anybody," Pippitt said. "It's not fun for them, it's not fun for us, but it's the law."

 

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