Neb. Admin. Code § 350-11-005.04 — The assessor shall maintain a file of all data used for determining the special and actual valuation

This information shall be filed with the Department of Revenue Property Assessment Division on or before March 1 of each year. The information shall be considered a public record and available for inspection by the Department of Revenue, Property Assessment Division, the Tax Equalization and Review Commission, or any interested person. The file shall include, but not be limited to: 005.04A A determination of the highest and best use of the properties to be valued; 005.04B An explanation of the valuation models used in arriving at the value estimates; 005.04C A delineation and explanation of "market areas" recognized in the analysis; 005.04D An explanation and analysis including documentation of adjustments made to sales to reflect current cash equivalency or typical market conditions; 005.04E An explanation and analysis of the estimate of economic rent or net operating income used in an income capitalization approach including estimates of yields, commodity prices, typical crop share, or documentation of cash rents; 005.04F An e xplanation and analysis of typical expenses allowed in an income capitalization approach; 005.04G An explanation and analysis of the overall capitalization rate used in an income capitalization approach; and, Nebraska Department of Revenue Title 350, Chapter 11, Rev. 3/15/09 Property Assessment Division Agricultural or Horticultural Land Special Valuation Regulations 10 005.04H Any other information necessary in supporting the estimate of valuations. (Neb. Rev. Stat. Section 77-1371, R.R.S. 2003 and Neb. Rev. Stat. Sections 77-702 and 77-1346, R.S. Supp., 2007.) REG-11-006 DISQUALIFICATION CRITERIA 006.01 Any land upon which the special valuation assessment has previously been granted shall cease to be eligible for the special valuation assessment upon the occurrence of any of the following events: 006.01A Written notification by the applicant or his or her successor in interest, or the applicant’s agent, guardian, conservator, or executor of the applicant’s estate to the assessor to remove the special valuation assessment; or 006.01B Sale or transfer of the land to an ownership if it results in a status of tax exemption. If the property is sold or transferred to an entity that may qualify for a property tax exemption pursuant to Neb. Rev. Stat. Section 77-202(1) (c) or (d), then this subsection shall not apply until the exemption has been granted; or 006.01C Sale or transfer to the state or its political subdivisions unless the land continues to qualify as agricultural or horticultural land; or 006.01D Annexation of the land by a sanitary and improvement district, city, or village except for land in a conservation and preservation easement, inside the corporate limits of a city or village; or 006.01E The land no longer qualifies as agricultural or horticultural land ; or 006.01F The land is donated to an organization exempt from taxation under section 501(c)(3) of the Internal Revenue Code, State of Nebraska or a political subdivision of the State of Nebraska and will be used by the organization, state or political subdivision for a public, educational, religious, charitable, or cemetery purpose. 006.02 It is the duty of the applicant, the applicant’s agent, guardian or the conservator, or executor of the applicant’s estate, to notify the assessor of any change in the status of the land, which will disqualify it from receiving the special valuation assessment. 006.03 It shall be the duty of the assessor to continually verify, throughout the year, that all properties listed for the special valuation assessment continue to qualify and apply the recapture valuation assessment through tax year 2008, to any properties which are no longer eligible. (Neb. Rev. Stat. Section 77-1347, R.S. Supp., 2006 and Neb. Rev. Stat. Sections 77 -702 and 77-1348, R.S. Supp., 2007.) Reg-11-007 DISQUALIFICATION PROCEDURE 007.01 If land that has been receiving the special valuation assessment is disqualified, the assessor shall send written notice of the disqualification and the reason for disqualification to the owner and applicant if different from the owner within fifteen days after his or her determination. Nebraska Department of Revenue Title 350, Chapter 11, Rev. 3/15/09 Property Assessment Division Agricultural or Horticultural Land Special Valuation Regulations 11 007.01A The owner and if not the same, the applicant may protest the disqualification by the assessor to the county board of equalization within thirty days after the mailing date of the notice. 007.01A(1) The protest shall be written in triplicate, signed and filed with the county clerk. 007.01A(2) If the protest is not timely filed, it shall automatically be dismissed. 007.01A(3) The protest shall contain a statement of why the land should not be disqualified. 007.01A(4) Each protest filed can only pertain to one parcel and not a combination of parcels. 007.01B The county board of equalization shall decide any protest filed within thirty days from the date the protest was filed with the county clerk. 007.01C Within seven days after the county board of equalization’s decision, the county clerk shall mail written notice of the board’s decision to the owner and, if not the same, the applicant. If the protest is denied the notice shall state the reason for denial. 007.01D Within 30 days after the date of the decision of the county board of equalization, the owner and if not the same, the applicant may appeal the board’s decision to the Tax Equalization and Review Commission pursuant to Neb. Rev. Stat. Section 77-5013. 007.02 If failure to give notice pursuant to REGS -11-007.01 and 11-007.01C, prevented the timely filing of a protest or appeal, an owner or the applicant if different from the owner having a right to protest or appeal may petition the Tax Equalization and Review Commission pursuant to Neb. Rev. Stat. Section 77-5013 on or before December 31 of the year in which the notice should have been sent, for a determination of the qualification or disqualification of the land. 007.02A No petition or appeal shall in any manner suspend the collection of any tax or the duties of officers relating thereto during the pendency of the petition or appeal, and all taxes affected thereby, which may be collected, shall be distributed as though no petition or appeal were pending. 007.02B If by final order of the Commission, it is determined that such tax or a part thereof should be refunded, the county treasurer is authorized to make the refund upon receiving a certified copy of such final order. 007.03 Notice of disqualification shall not be sent for the following occurrences: (a) sale or transfer to an entity, which did or has the authority to acquire land through eminent domain; or (b) the land is owned by a public entity and is disqualified because it is being used or is being developed for use in a public purpose or is exchanged for other property to be used or developed for use in a public purpose; or (c) the land is donated to an organization exempt from taxation under section 501(c)(3) of the Internal Revenue Code, State of Nebraska or a political subdivision of the State of Nebraska and w ill be used by the organization, state or political subdivision for a public, educational, religious, charitable, or cemetery purpose. Nebraska Department of Revenue Title 350, Chapter 11, Rev. 3/15/09 Property Assessment Division Agricultural or Horticultural Land Special Valuation Regulations 12 (Neb. Rev. Stat. Section 77-1347, R.S. Supp., 2006 and Neb Rev. Stat. Sections 77-702 and 77-1348, R.S. Supp., 2007.) REG-11-008 NOTICE OF VALUE 008.01 For a parcel of land that has an approved application on file as of the certification of the assessment roll, the assessor shall send notice to the owner and the applicant if different from the owner thereof, pursuant to REG-10- 002.02F and REG -10-002.02G, if either the special valuation assessment or the recapture valuation assessment is different from the previous year. The notice shall state the information as required pursuant to Neb. Rev. Stat. Section 77-1315(2). The protest procedures for the special valuation assessment and the recapture valuation assessment shall be as set out in REG-10-002.04 through REG-10-002.04C1. After tax year 2008 the recapture valuation assessment will not be included on the notice of valuation. 008.02 For a parcel that has an approved application filed after the certification of the assessment roll and on or before June 30, the county board of equalization shall send the valuation change notice as required under REG -11- 008.01, except that the notice shall state that the owner or the applicant if different from the owner, has thirty (30) days after the date the notice was mailed to protest the valuations to the county board of equalization. 008.02A The county board of equalization shall decide the protest within thirty (30) days after the date the protest was filed with the county clerk. 008.02A(1) Within seven (7) days after the county board of equalization’s decision, the county clerk shall mail written notice of the board’s decision to the owner and the applicant if different from the owner. 008.02B The owner and if not the same, the applicant, upon receiving notice of the decision of the county board of equalization regarding his or her valuation protest, may within thirty (30) days from the notice date, appeal the decision, to the Tax Equalization and Review Commission pursuant to Neb. Rev. Stat. Section 77-5013. 008.03 For a parcel of land that has an approved application filed after June 30, because of county board of equalization action on agricultural or horticultural land that was undervalued, overvalued or omitted from the assessment roll or clerical errors involving agricultural or horticultural land, the county board of equalization shall send to the owner and the applicant if different from the owner, a notice of valuation stating the special valuation assessment and the recapture valuation assessment. After tax year 2008 the recapture valuation assessment will not be included on the notice of valuation. The notice of valuation shall be sent at the same time as the application approval notice. 008.03A The valuation notice shall state that the owner or the applicant if different from the owner, has thirty (30) days after the date of the valuation notice to prote st the valuations to the county board of equalization. The protest procedures for the special value assessment and the recapture value shall be as set out in REG-10-002.04 through REG-10-002.04C1 except for date restrictions. 008.03B The county board of equalization shall decide the protest within thirty (30) days after the date the protest was filed with the county clerk. 008.03B(1) Within seven (7) days after the county board of equalization’s decision, the county clerk shall mail written notice of the board’s decision to the owner and the applicant if different from the owner. Nebraska Department of Revenue Title 350, Chapter 11, Rev. 3/15/09 Property Assessment Division Agricultural or Horticultural Land Special Valuation Regulations 13 008.03C Within thirty (30) days after the date of the decision of the county board of equalization, the owner and if not the same, the applicant may appeal the board’s decision to the Tax Equalization and Review Commission pursuant to Neb. Rev. Stat. Section 77-5013. 008.04 If failure to give notice pursuant to REG-11-008.01, REG-11-008.02, REG-11-008.02A(1), REG-11- 008.03 and REG-11-008.03B(1) prevented the timely filing of a protest or appeal, an owner or applicant if different from the owner having a right to protest or appeal may petition the Tax Equalization and Review Commission pursuant to Neb. Rev. Stat. Section 77 -5013 on or before December 31 of the year in which the notice should have been sent , for a determination of the special valuation assessment or the recapture valuation assessment. 008.05 No appeal or petition shall in any manner suspend the collection of any tax or the duties of officers relating thereto during the pendency of the appeal or petition, and all taxes affected thereby, which may be collected, shall be distributed as though no appeal or petition were pending. 008.06 If by final order of the Commission, it is determined that such tax or a part thereof should be refunded, the county treasurer is authorized to make the refund upon receiving a certified copy of such final order. (Neb. Rev. Stat. Sections 77-1315, 77-1502 and 77-5013, R.S. Supp., 2006 and Neb. Rev. Stat. Section 77-702, R.S. Supp., 2007.) REG-11-009 DISQUALIFICATION AND TAX CALCULATION 009.01 Each year through 2008, the assessor shall maintain the assessment roll to show the recapture valuation assessment and special valuation assessment on all land receiving the special valuation assessment.