Nebraska § 77-3506.03 - Exempt amount; reduction; when; continued eligibility for exemption; when.
Full text of Nebraska Revised Statutes of Nebraska § 77-3506.03 — Exempt amount; reduction; when; continued eligibility for exemption; when., with citation guidance and answers to common questions.
§ 77-3506.03. Exempt amount; reduction; when; continued eligibility for exemption; when.
(1) Except as provided in subsection (2) of this section, for homesteads valued at or above the maximum value, the exempt amount for any exemption under section 77-3507 or 77-3508 shall be reduced by ten percent for each two thousand five hundred dollars of value by which the homestead exceeds the maximum value and any homestead which exceeds the maximum value by twenty thousand dollars or more is not eligible for any exemption under section 77-3507 or 77-3508.
(2)(a) For homesteads valued at or above the maximum value, the exempt amount shall not be reduced and the homestead shall remain eligible for an exemption under section 77-3507 or 77-3508 for the current year if the homestead:
(i) Received an exemption under section 77-3507 or 77-3508 in the previous year;
(ii) Was valued below the maximum value in such previous year; and
(iii) Is not ineligible for an exemption under section 77-3507 or 77-3508 for any reason other than as provided in subsection (1) of this section.
(b) If a homestead remains eligible for an exemption under subdivision (a) of this subsection for any year, the homestead shall continue to be eligible for each year thereafter unless the homestead is not eligible for such exemption for any reason other than as provided in subsection (1) of this section.
(c) The percentage of the exempt amount for a homestead for any year such homestead is valued at or above the maximum value and remains eligible for exemption under this subsection shall be equal to the percentage of the exempt amount for the homestead in the last year the homestead received an exemption under section 77-3507 or 77-3508 and was valued below the maximum value.
(d) If the homestead's increase in value from the previous year to a value at or above the maximum value is due to improvements to the homestead, this subsection shall not apply to such homestead.
(3) This section shall not apply to any exemption under section 77-3506.
Source: official Nebraska text · Last verified 2026-08-27
Frequently Asked Questions About Nebraska § 77-3506.03
What does Revised Statutes of Nebraska § 77-3506.03 cover?
Section 77-3506.03 ("Exempt amount; reduction; when; continued eligibility for exemption; when.") is part of the Revised Statutes of Nebraska, the codified statutory law of Nebraska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nebraska § 77-3506.03?
A common citation format is "Revised Statutes of Nebraska § 77-3506.03" (Nebraska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nebraska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nebraska official source linked on this page or consult a licensed Nebraska attorney.
How does Nebraska § 77-3506.03 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nebraska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nebraska.