Neb. Admin. Code § 350-11-09.05 — If eligibility for the special valuation assessment is lost in 2008, the land shall be assessed and taxed at the recapture valuation assessment (75% of the recapture valuation) for that year

The additional taxes accrued during the prior year if the special valuation was in effect shall be collected and are considered a lien against the property as of December 31 of the prior year if the special valuation assessment was allowed. The additional taxes for 2007 shall be calculated as the difference from the recapture valuation assessment, (75% of the recapture valuation) minus the special valuation assessment, times the applicable levy from the past year. 009.05A Recapture valuation assessment is no longer applicable after 2008. No additional taxes and interest on the additional taxes will be collected after 2008.