42-15005

42-15005. Assessed valuation of class five
property

The director shall annually determine percentages to apply as a basis for
determining the assessed valuation of class five property described in section 42-12005
equal to the ratios that:

1. The total net assessed valuation for secondary tax purposes of all taxable
property in class one and class six, paragraph 3 and personal property in class two bears
to the total full cash value of such property and that ratio shall be used for secondary
tax purposes as required by federal law.

2. The total net assessed valuation of all taxable property for primary tax
purposes in class one and class six, paragraph 3 and personal property in class two bears
to the total limited valuation used for primary tax purposes of such property and that
ratio shall be used for primary tax purposes as required by federal law.