NE LB1183

Reduces the taxable valuation of agricultural and horticultural land from 75% to 37.5% of actual value for most property tax purposes, effective January 1, 2027

Lowers the taxable valuation of agricultural/horticultural land from 50% to 25% of actual value specifically for school district bond taxes approved by voters on or after January 1, 2027

Adjusts the acceptable assessment ranges for agricultural land from 69-75% to 34.5-37.5% of actual value, and for school bond purposes from 44-50% to 22-25%

Modifies state aid value calculations for school funding: agricultural/horticultural land changes from 72% to 36% of actual value, and other real property changes from 96% to 48% of actual value

Amends Nebraska statutes 77-201, 77-5023, and 79-1016 to implement these valuation changes, with provisions taking effect January 1, 2027