Neb. Admin. Code § 350-12-001.03 — Neb

Rev. Stat. § 77-1327(3) requires the P roperty Tax Administrator to develop comprehensive ratio studies from the state sales file. The assessment/sales ratio studies are used by the Property Tax Administrator to assist the Tax Equalization and Review Commission i n measuring the level of value and quality of asses sment for statewide equalization purposes, and to assist in establishing local system or school district adjusted valuations under Neb. Rev. Stat. § 79-1016. The assessment/sales ratio studies may also be used by county assessors and county boards of equalization for determining assessment actions in the county. To comply with statutory requirements, a state sales file database has been built, consisting of a complete record of all reported real property sales for a stated time frame. The Property Tax Administrator provides the county assessors with access to the state sales file for p urposes of viewing sale rosters, assessment/sales ratio study reports, and finding comparable sales for hard-to-a ssess properties. Upon request, the Property Tax Administrator will m ake the state sales file database available to any party for use in the appraisal, assessment or equalization of proper ty. Neb. Rev. Stat. §§ 77-702, 77-1327, 77-1377, 77-502 7, 79-1016, and 84-712 through 84-712.09. Nebraska Department of Revenue Title 350, Chapter 12, Rev. 07.05.2017 Property Assessment Division Sales File Regulations 4 REG-12-002 DEFINITIONS