State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter77 > 77-3501_01

77-3501.01. Exempt amount, defined.(1) For purposes of section 77-3507, exempt amount shall mean the lesser of (a) the taxable value of the homestead or (b) one hundred percent of the average assessed value of single-family residential property in the claimant's county of residence as determined in section 77-3506.02 or forty thousand dollars, whichever is greater.(2) For purposes of sections 77-3508 and 77-3509, exempt amount shall mean the lesser of (a) the taxable value of the homestead or (b) one hundred twenty percent of the average assessed value of single-family residential property in the claimant's county of residence as determined in section 77-3506.02 or fifty thousand dollars, whichever is greater. SourceLaws 1994, LB 902, § 27; Laws 2006, LB 968, § 13.