Nebraska LB814 amends the valuation of agricultural and horticultural land for taxation purposes.
Nebraska LB814 modifies the valuation of agricultural and horticultural land for tax purposes. Before January 1, 2027, agricultural and horticultural land will be valued at 69-75% of its actual value, or 44-50% if used for school district taxes on bonds approved after January 1, 2022. After January 1, 2027, these lands will be valued at 50% of their actual value. The bill also establishes acceptable ranges for other real property and repeals existing sections 77-201 and 77-5023.
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