2006 Nebraska Revised Statutes - § 77-1348 — Agricultural or horticultural land; special valuation; disqualification; assessor; notice ; additional tax; interest.

Section 77-1348
Agricultural or horticultural land; special valuation; disqualification; assessor; notice ; additional tax; interest.
Section 77-1348

(1) Whenever land which has received special valuation becomes disqualified for such special valuation, the assessor shall notify the applicant and there shall be added to the tax extended against the land on the respective property tax roll or rolls, to be collected and distributed in the same manner as other taxes levied upon real property, an amount equal to the sum of the following:

(a)(i) For tax year 2007, if the land was disqualified before July 25 of the year of disqualification, the total amount by which the taxes assessed against the land would have been increased if it had been valued at its recapture value during the last two or lesser number of years in which such special valuation was in effect for the land, and, if the land was disqualified on or after July 25 of the year of disqualification, the total amount by which the taxes assessed against the land would have increased if it had been valued at its recapture value during the last three or lesser number of years in which special valuation was in effect;

(ii) For tax year 2008, if the land was disqualified before July 25 of the year of disqualification, the total amount by which the taxes assessed against the land would have been increased if it had been valued at its recapture value during the last year in which such special valuation was in effect for the land, and, if the land was disqualified on or after July 25 of the year of disqualification, the total amount by which the taxes assessed against the land would have increased if it had been valued at its recapture value during the last two or lesser number of years in which special valuation was in effect; and

(iii) For tax year 2009, if the land was disqualified before July 25 of the year of disqualification, the total amount by which taxes assessed against the land would have been increased if it had been valued at its recapture value during the current tax year, and, if the land was disqualified on or after July 25 of the year of disqualification, the total amount by which the taxes assessed against the land would have increased if it had been valued at its recapture value during the last year in which special valuation was in effect.

For tax years beginning in 2010, the disqualification of land for special valuation shall not result in additional taxes; and

(b) Interest upon the amounts of additional tax from each year included in subdivision (1)(a) of this section at the rate of six percent from the dates at which such additional taxes would have been payable if no special valuation had been in effect through sixty days after the notice sent pursuant to subsection (1) of this section. Upon expiration of the sixty days, the additional taxes and interest shall be delinquent and interest shall accrue at the rate provided in section 45-104.01 until paid.

(2) In cases when the designation of special valuation is removed as a result of a sale or transfer described in subdivision (2) or (3) of section 77-1347 other than an acquisition described in subsection (3) of this section, the lien for such increased taxes and interest shall attach as of the day preceding such sale or transfer.

(3) The provisions of subsection (1) of this section do not apply if:

(a) The land was acquired by eminent domain;

(b) The land is owned by a public entity and is disqualified from special valuation because it is being used or is being developed for use in a public purpose or is exchanged for other property to be used or developed for use in a public purpose; or

(c) The land is donated to an organization exempt from taxation under section 501(c)(3) of the Internal Revenue Code or to the state or its political subdivisions and will be used by the organization, state, or political subdivision for a public, educational, religious, charitable, or cemetery purpose under section 77-202.

Source:

Laws 1974, LB 359, § 6

Laws 1983, LB 26, § 5

Laws 1985, LB 271, § 20

Laws 1989, LB 361, § 13

Laws 1996, LB 1039, § 2

Laws 2000, LB 968, § 54

Laws 2002, LB 994, § 19

Laws 2004, LB 973, § 29

Laws 2006, LB 808, § 33.

~Revised Statutes Cumulative Supplement, 2006