For purposes of the Nebraska Property Tax Incentive Act:

Terms Used In Nebraska Statutes 77-6702

  • Company: shall include any corporation, partnership, limited liability company, joint-stock company, joint venture, or association. See Nebraska Statutes 49-801
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
  • Year: shall mean calendar year. See Nebraska Statutes 49-801

(1) Allowable growth percentage means the percentage increase, if any, in the total assessed value of all real property in the state from the prior year to the current year, as determined by the department;

(2) Community college taxes means property taxes levied on real property in this state by a community college area, excluding the following:

(a) Any property taxes levied for bonded indebtedness;

(b) Any property taxes levied as a result of an override of limits on property tax levies approved by voters pursuant to section 77-3444 ; and

(c) Any property taxes that, as of the time of payment, were delinquent for five years or more;

(3) Department means the Department of Revenue;

(4) Eligible taxpayer means any individual, corporation, partnership, limited liability company, trust, estate, or other entity that pays school district taxes or community college taxes during a taxable year; and

(5) School district taxes means property taxes levied on real property in this state by a school district or multiple-district school system, excluding the following:

(a) Any property taxes levied for bonded indebtedness;

(b) Any property taxes levied as a result of an override of limits on property tax levies approved by voters pursuant to section 77-3444 ; and

(c) Any property taxes that, as of the time of payment, were delinquent for five years or more.

Source

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