2006 Nebraska Revised Statutes - § 77-3501.01 — Exempt amount, defined.
Section 77-3501.01Exempt amount, defined.
Section 77-3501.01
(1) For purposes of section 77-3507, exempt amount shall mean the lesser of (a) the taxable value of the homestead or (b) one hundred percent of the average assessed value of single-family residential property in the claimant's county of residence as determined in section 77-3506.02 or forty thousand dollars, whichever is greater.
(2) For purposes of sections 77-3508 and 77-3509, exempt amount shall mean the lesser of (a) the taxable value of the homestead or (b) one hundred twenty percent of the average assessed value of single-family residential property in the claimant's county of residence as determined in section 77-3506.02 or fifty thousand dollars, whichever is greater.
Source:
- Laws 1994, LB 902, § 27
Laws 2006, LB 968, § 13.
~ Revised Statutes Cumulative Supplement, 2006
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