Nebraska Administrative Code
Title 350 - Nebraska Department of Revenue, Property Assessment Division
Chapter 16 - Sale of Educational
001.01 These regulations govern the responsibilities of the Property Tax Administrator for determining the
appraised value, excluding the mineral rights, for educational lands that are to be offered for sale at public auction
by the Board of Educational Lands and Funds as required by the laws of the State of Nebraska.
(Neb. Rev. Stat. Sections 72-258.03 and 77-702, R,S. Supp. 2007.)
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002.01 Adjusted value shall mean the total assessed valuation of the parcel offered for sale, excluding
mineral rights adjusted by the factor in REG-16-002.04 so that:
002.01A Agricultural and horticultural land is measured at seventy-five (75) percent of actual
002.01A(1) Agricultural and horticultural land subject to “special valuation assessment” is measured at one hundred (100) percent of the actual value .
002.01B All other classes of real property, other than agricultural and horticultural land, are
measured at one hundred (100) percent of actual value.
002.02 Appraised value shall mean:
002.02A The adjusted value for agricultural and horticultural land, multiplied by 1.33;
002.02B For all other classes of real property, the adjusted value; or,
002.02C The value as established by the Board of Educational Lands and Funds pursuant to Neb.
Rev. Stat. Section 72-257 or 72-258.
002.03 Assessed value shall mean the taxable value as contained in the records of the assessor’s office in
the county where the property is located.
002.04 Factor shall mean a percentage adjustment to the assessed value so that agricultural and
horticultural land is measured at seventy-five (75) percent of actual value and all other real property is measured at
(Neb. Rev. Stat. Sections 72-258.03, 77-201, 77-702, and 79-1016, R.S. Supp., 2007.)
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003.01 The Board of Educational Lands and Funds shall furnish the Property Tax Administrator a written
request for the appraised value for each parcel of educational lands that it intends to sell at public auction. The
request shall state the county and legal description of each parcel.
003.02 The Property Tax Administrator or his or her representative shall obtain from the assessor the
assessed value and school district of the parcel of real property.
003.02A Upon obtaining the assessed valuation from the assessor the Property Tax Administrator shall do the following:
003.02A(1) If the class of real property is agricultural or horticultural land, adjust the
assessed value by the factor calculated pursuant to Neb. Rev. Stat. Section 79-1016 for the school district where the property is located, to determine the adjusted valuation. Then, multiply the adjusted valuation by 1.33 to determine the appraised value.
003.02A(2) To determine the appraised value for all other classes of real property, adjust the assessed value by the factor calculated pursuant to Neb. Rev. Stat. Section 79-1016 for the school district where the property is located.
003.03 The Property Tax Administrator shall certify the appraised value to the Board of Educational Lands
and Funds within thirty (30) days of the receipt of the request.
(Neb. Rev. Stat. Sections 72-258.03, 77-201, 77-702 and 79-1016, R.S. Supp., 2007.)