2018 Nebraska Revised Statutes
Chapter 77 - REVENUE AND TAXATION
77-3501.01 Exempt amount, defined.
77-3501.01. Exempt amount, defined.
(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 section 77-3508, 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.
(3) For purposes of section 77-3506, exempt amount shall mean the taxable value of the homestead.
Source
- Laws 1994, LB 902, § 27;
- Laws 2006, LB 968, § 13;
- Laws 2014, LB1087, § 2;
- Laws 2018, LB1089, § 4.
- Operative Date: January 1, 2019
