Agricultural or horticultural land; terms, defined

The purpose of sections 77-1343 to 77-1347.01 is to provide a special valuation for qualified agricultural or horticultural land so that the current assessed valuation of the land for property tax purposes is the value that the land would have without regard to the value the land would have for other purposes or uses. For purposes of sections 77-1343 to 77-1347.01 :

# (1)

Agricultural or horticultural land means that land as defined in section 77-1359 ;

# (2)

Applicant means an owner or lessee;

# (3)

Lessee means a person leasing agricultural or horticultural land from a state or governmental subdivision which is an owner that is subject to taxation under section 77-202.11 ;

# (4)

Owner means an owner of record of agricultural or horticultural land or the purchaser of agricultural or horticultural land under a contract for sale; and (5) Special valuation means the value that the land would have for agricultural or horticultural purposes or uses without regard to the actual value the land would have for other purposes or uses

Last amended: Source Laws 1974, LB 359, § 1; Laws 1983, LB 26, § 1; Laws 1985, LB 271, § 15; Laws 1989, LB 361, § 9; Laws 2000, LB 968, § 48; Laws 2001, LB 170, § 9; Laws 2002, LB 994, § 16; Laws 2004, LB 973, § 25; Laws 2006, LB 808, § 27; Laws 2009, LB166, § 9. Annotations The county assessor's valuation of homesite acres was not arbitrary, capricious, or unreasonable, where the valuation was based on the sale of similarly sized parcels within the same market and where sufficient differences justified the $

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