Neb. Admin. Code § 350-11-004.18 — If an application is denied, the owner and if not the same the applicant may file an application in a future year to once again seek the special valuation assessment

(Neb. Rev. Stat. Sections 77-202.03, 77-1345.01, 77-1347 and 77-5013, R.S. Supp., 2006 and Neb. Rev. Stat. Sections 77-702, 77-1344, 77-1345, 77-1346 and 77-1348, R.S. Supp., 2007.) REG-11-005 VALUATION 005.01 The assessor shall annually use comparable sales from within the influenced area or other areas of similar influence to determine the actual value of the agricultural land and horticultural land in the area. 005.01A Actual valuation of agricultural land and horticultural land shall be based on a market analysis of arms length transactions that may include property that sold subject to certain probable and legal purposes and uses. For the purposes of these regulations, probable and legal uses shall mean those which are immediately feasible, and permitted by current zoning or other statutorily permitted uses. The actual value may additionally be influenced by other probable uses that are not yet feasible or legal under current zoning. These include, but are not limited to use of the land for residential (homesite) purposes, use of the land for commercial use purposes, use of the land for industrial use purposes, or use of the land for recreational use purposes.