Nebraska § 77-2020 - Inheritance tax; appraisement; duty of appraiser; objections; hearing on report.

§ 77-2020. Inheritance tax; appraisement; duty of appraiser; objections; hearing on report.

It shall be the duty of an appraiser appointed under section 77-2019 forthwith to give such notice by mail or personally to all interested persons as the court may by order direct, of the time and place he will appraise such property. At such time and place he shall appraise the property at the fair market value of the same, and for that purpose the appraiser is authorized by leave of the court to issue subpoenas and to compel the attendance of witnesses before him, and to take the evidence of such witnesses under oath concerning such property, and the value thereof. He shall make a report thereof and of such value in writing to the court with the depositions of the witnesses and such other facts relating thereto as the court may by order require, to be filed with the records of the county court. Any person interested may file objections to such report within five days after the report is filed with the court. The judge of the county court shall examine the appraiser's report and any objections thereto, and may, at his discretion, take further evidence and shall enter an order fixing the proper appraisal of the property.

Failure to file objection to appraiser's report within five days does not preclude appeal from determination of tax. County of Keith v. Triska, 168 Neb. 1, 95 N.W.2d 350 (1959).

Property for purpose of tax should be valued at amount of money which it would produce if offered and sold for cash at time of death of decedent. In re Fort's Estate, 117 Neb. 854, 223 N.W. 633 (1929); In re Woolsey's Estate, 109 Neb. 138, 190 N.W. 215 (1922).