Nebraska § 77-103.01 Class or subclass of real property, defined

Nebraska Statutes

§ 77-103.01 — Class or subclass of real property, defined

Nebraska § 77-103.01

Ch. 77Revenue and Taxation

This text of Nebraska § 77-103.01 (Class or subclass of real property, defined) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 77-103.01 (2026).

Text

Class or subclass of real property means a group of properties that share one or more characteristics typically common to all the properties in the class or subclass, but are not typically found in the properties outside the class or subclass. Class or subclass includes, but is not limited to, the classifications of agricultural land or horticultural land listed in section  77-1363 , parcel use, parcel type, location, geographic characteristics, zoning, city size, parcel size, and market characteristics appropriate for the valuation of such land. A class or subclass based on market characteristics shall be based on characteristics that affect the actual value in a different manner than it affects the actual value of properties not within the market characteristic class or subclass.

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Class or subclass of real property means a group of properties that share one or more characteristics typically common to all the properties in the class or subclass, but are not typically found in the properties outside the class or subclass. Class or subclass includes, but is not limited to, the classifications of agricultural land or horticultural land listed in section 77-1363 , parcel use, parcel type, location, geographic characteristics, zoning, city size, parcel size, and market characteristics appropriate for the valuation of such land. A class or subclass based on market characteristics shall be based on characteristics that affect the actual value in a different manner than it affects the actual value of properties not within the market characteristic class or subclass.

Legislative History

Source: Laws 2001, LB 170, § 3; Laws 2003, LB 291, § 1. Annotations: The Tax Equalization and Review Commission did not err in finding that the market areas as drawn by the county assessor complied with professionally accepted methodology. Vanderheiden v. Cedar Cty. Bd. of Equal., 16 Neb. App. 578, 746 N.W.2d 717 (2008).