Agricultural Economics Department


Date of this Version



Published in Cornhusker Economics, 05/01/2002. Produced by the Cooperative Extension, Institute of Agriculture and Natural Resources, Department of Agricultural Economics, University of Nebraska–Lincoln.


In Nebraska, land and buildings are valued at their fair market value for purposes of property taxation. Residential and commercial real estate is valued at 92- 100 percent of actual value (i.e. farm market value) and agricultural real estate is valued at 74-80 percent of actual value. NRS 77-5023(3). Fair market value for property tax valuation purposes may be determined by (1) comparative sales, (2) income, or (3) cost. NRS 77-112. In Livingston v Jefferson County Board of Equalization, 10 Neb App 934 (2002), the Nebraska Court of Appeals ruled that the county board of equalization erred in not considering a rural residence’s proximity to a swine farrowing facility in determining the residence’s valuation.