LR459

Nebraska LR459 proposes an interim study to evaluate the potential income method for assessing agricultural land value.

Nebraska LR459 proposes an interim study to examine the assessment of agricultural land value based on potential income. The study will explore whether this method is the best way to properly assess agricultural land. The Revenue Committee of the Legislature will conduct the study, consulting with the Nebraska Farm Bureau, the University of Nebraska-Lincoln, and other stakeholders. The study will analyze the use of potential income assessments in other states, challenges faced by past legislation, and the best sources of information for evaluating potential income.