Bill Summary – FastDemocracy

LB98                                                                       LB98
                                                                     2021
                                LEGISLATURE OF NEBRASKA
                            ONE HUNDRED SEVENTH LEGISLATURE
                                     FIRST SESSION
                       LEGISLATIVE BILL 98
       Introduced by Walz, 15.
       Read first time January 07, 2021
       Committee: Revenue
   A BILL FOR AN ACT relating to property taxes; to amend sections 77-1344
       and 77-1347, Revised Statutes Cumulative Supplement, 2020; to change
      provisions relating to agricultural or horticultural land receiving
      special valuation; to provide an operative date; and to repeal the
      original sections.
  Be it enacted by the people of the State of Nebraska,
                                          -1-
LB98                                                                                      LB98
                                                                                    2021
       Section 1. Section 77-1344, Revised Statutes Cumulative Supplement,
   2020, is amended to read:
      77-1344 (1) Agricultural or horticultural land which has an actual
  value as defined in section 77-112 reflecting purposes or uses other than
  agricultural or   horticultural purposes or   uses shall be   assessed as
  provided in subsection (3) of section 77-201 if the land meets the
  qualifications of this section subsection and an application for such
  special valuation is filed and approved pursuant to section 77-1345.
       (2) In counties with a population of less than one hundred thousand
  inhabitants, land shall qualify for special valuation if all of the
  following criteria are met:
       (a) The land must be located outside the corporate boundaries of any
   sanitary and improvement district;
       (b) The land must be agricultural or horticultural land; and
      (c) If the land consists of five contiguous acres or less, the owner
   or lessee of the land must provide an Internal Revenue Service Schedule F
  documenting a profit or loss from farming for two out of the last three
  years.
      (3)   In counties with     a population of     one hundred thousand
   inhabitants or more, order for the land shall to qualify for special
   valuation if , all of the following criteria are shall be met:
      (a) The land must be located outside the corporate boundaries of any
  sanitary and improvement district, city, or village except as provided in
  subsection (4) (2) of this section; and
      (b) The the land must be agricultural or horticultural land; and .
       (c) If the land consists of five contiguous acres or less, the owner
  or lessee of the land must also provide an Internal Revenue Service
  Schedule F documenting a profit or loss from farming for two out of the
  last three years in order for such land to qualify for special valuation.
       (4)   In counties with     a population of     one hundred thousand
  inhabitants or more, special (2) Special valuation may be applicable to
                                               -2-
LB98                                                                                                      LB98
                                                                                                    2021
   agricultural or    horticultural land included within the corporate
   boundaries of a city or village if the land is subject to a conservation
   or preservation easement as provided in the Conservation and Preservation
   Easements Act and the governing body of the city or village approves the
   agreement creating the easement.
      (5) (3) The eligibility of land for the special valuation provisions
   of this section shall be determined each year as of January 1. If the
   land so qualified becomes disqualified on or before December 31 of that
   year, it shall continue to receive the special valuation until January 1
   of the year following.
       (6) (4) The special valuation placed on such land by the county
  assessor under this section shall be subject to equalization by the
   county board of     equalization and the Tax Equalization and Review
   Commission.
       Sec. 2. Section 77-1347, Revised Statutes Cumulative Supplement,
   2020, is amended to read:
      77-1347 Upon approval of an application, the county assessor shall
  value the land as provided in section 77-1344 until the land becomes
  disqualified for such valuation by:
       (1) Written notification by the applicant or his or her successor in
   interest to the county assessor to remove such special valuation; or
       (2)     Except as   provided in     subsection       (2)    of section          77-1344,
   inclusion of the land within the corporate boundaries of any sanitary and
   improvement district, city, or village;
       (2)     (3)    The land no   longer meeting all of    the qualifications
  required for special valuation under section     77-1344.        qualifying as
  agricultural or horticultural land; or
      (4) For land that consists of five contiguous acres or less, the
  owner or lessee of the land not being able to provide an Internal Revenue
   Service Schedule F documenting a profit or loss from farming for two out
   of the last three years.
                                                    -3-
LB98                                                                     LB98
                                                                   2021
      Sec. 3.   This act becomes operative on January 1, 2022.
      Sec. 4.    Original sections 77-1344 and 77-1347, Revised Statutes
  Cumulative Supplement, 2020, are repealed.
                                        -4-
Statutes affected: 
Introduced: 77-1344, 77-1347