(1) Net book value of property for taxation shall mean that portion of the Nebraska adjusted basis of the property as of the assessment date for the applicable recovery period in the table set forth in this subsection.

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Terms Used In Nebraska Statutes 77-120

  • Assessment: means the act of listing the description of all real property and taxable tangible personal property, determining its taxability, determining its taxable value, and placing it on the assessment roll. See Nebraska Statutes 77-126
  • Nebraska adjusted basis: shall mean the adjusted basis of property as determined under the Internal Revenue Code increased by the total amount allowed under the code for depreciation or amortization or pursuant to an election to expense depreciable property under section 179 of the code. See Nebraska Statutes 77-118
  • Net book value of property for taxation: shall mean that portion of the Nebraska adjusted basis of the property as of the assessment date for the applicable recovery period in the table set forth in this subsection. See Nebraska Statutes 77-120
  • Year: shall mean calendar year. See Nebraska Statutes 49-801

NET BOOK VALUE AS A PERCENT
OF NEBRASKA ADJUSTED BASIS
Year Recovery Period (in years)
3 5 7 10 15 20
1 75.00 85.00 89.29 92.50 95.00 96.25
2 37.50 59.50 70.16 78.62 85.50 89.03
3 12.50 41.65 55.13 66.83 76.95 82.35
4 0.00 24.99 42.88 56.81 69.25 76.18
5 8.33 30.63 48.07 62.32 70.46
6 0.00 18.38 39.33 56.09 65.18
7 6.13 30.59 50.19 60.29
8 0.00 21.85 44.29 55.77
9 13.11 38.38 51.31
10 4.37 32.48 46.85
11 0.00 26.57 42.38
12 20.67 37.92
13 14.76 33.46
14 8.86 29.00
15 2.95 24.54
16 0.00 20.08
17 15.62
18 11.15
19 6.69
20 2.23
21 0.00
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