42-13301
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42-13301. Limited property value A. The limited property value of property for primary property taxation purposes is the limited property value of the property in the preceding valuation year plus the greater of either: 1. Ten per cent of that value. 2. Twenty-five per cent of the difference between the full cash value of the parcel in the current valuation year and the limited value of the parcel in the preceding valuation year. B. The current limited value of a parcel of property shall not exceed its current full cash value. C. The limited property value of a parcel of property shall be determined and shown on notices and tax rolls as the total limited property value of the property. Separate determinations shall not be made for the limited property value of land and for the improvements on the land in reference to property parcels. |