§ 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 section 77-3508, 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. (3) For purposes of section 77-3506, exempt amount shall mean the taxable value of the homestead. History: Laws 1994, LB 902, § 27; Laws 2006, LB 968, § 13; Laws 2014, LB1087, § 2; Laws 2018, LB1089, § 4.