The assessed valuation of class one property described in section 42-12001 is the following percentage of its full cash value or limited valuation, as applicable:

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1. Twenty-five per cent through December 31, 2005.

2. Twenty-four and one-half per cent beginning from and after December 31, 2005 through December 31, 2006.

3. Twenty-four per cent beginning from and after December 31, 2006 through December 31, 2007.

4. Twenty-three per cent beginning from and after December 31, 2007 through December 31, 2008.

5. Twenty-two per cent beginning from and after December 31, 2008 through December 31, 2009.

6. Twenty-one per cent beginning from and after December 31, 2009 through December 31, 2010.

7. Twenty per cent beginning from and after December 31, 2010 through December 31, 2012.

8. Nineteen and one-half per cent beginning from and after December 31, 2012 through December 31, 2013.

9. Nineteen per cent beginning from and after December 31, 2013 through December 31, 2014.

10. Eighteen and one-half per cent beginning from and after December 31, 2014 through December 31, 2015.

11. Eighteen per cent beginning from and after December 31, 2015.