Neb. Admin. Code § 350-12-002.05 — Assessment/sales ratio means the ratio calculated by dividing the assessed value of the parcel of real property by the selling price of that parcel

Studi es utilizing the assessment/sales ratio are collect ively called assessment/sales ratio studies. 002.06 Class or subclass of real property means a collection of properties that share one or more com mon characteristics that affect value, and that are typ ically not found in other properties outside the cl ass or subclass. The characteristics that will determine a class or subclass include, but are not limited to: improvement s tatus; parcel type; zoning; location; city size; parcel size; geographic characteristics; or market characteristics that are appropriate for the valuation of a class or subclass of real property pursuant to Neb. Rev. Stat. § 77-103.01. 002.06A For agricultural or horticultural land, cl ass or subclass includes, but is not limited to: irrigated cropland; dry cropland; grassland; wasteland; nurseries; feedlots; and orchards. 002.06B Geographic characteristics are the physical characteristics of the earth, land, region, or site that may have an effect on value. 002.06C Market characteristics are the social and economic factors in the market that affect the value of real property.