42-13301. Limited property value
A. The limited property value of property for property taxation purposes is the limited property value of the property in the preceding valuation year plus five per cent of that value.
B. The current limited property 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.
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