Nebraska Revised Statutes

Neb. Rev. Stat. § 77-120 (2026)

Net book value of property for taxation, defined

✓ current as of July 2026

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(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.

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

Notes of Decisions

Cited in 2 cases, 2000–2000 · leading case: Pfizer Inc. v. Lancaster Cnty. Bd. of Equalization, 616 N.W.2d 326 (Neb. 2000).

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Pfizer Inc. v. Lancaster Cnty. Bd. of Equalization, 616 N.W.2d 326 (Neb. 2000). · cites it 5× “The TERC determined that pursuant to the relevant federal tax laws, the assessed value of the subject tangible personal property must be calculated based on the acquisition cost, or purchase price, of the property, as adjusted for depreciation pursuant to § 77-120. The TERC…”

Mid City Bank, Inc. v. Douglas Cnty. Bd. of Equalization, 616 N.W.2d 341 (Neb. 2000). · cites it 3× “” Section 77-118 defines “Nebraska adjusted basis” as “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…”

— Neb. Rev. Stat. § 77-120(1) — 2 cases

Pfizer Inc. v. Lancaster Cnty. Bd. of Equalization, 616 N.W.2d 326 (Neb. 2000). “The TERC determined that pursuant to the relevant federal tax laws, the assessed value of the subject tangible personal property must be calculated based on the acquisition cost, or purchase price, of the property, as adjusted for depreciation pursuant to § 77-120. The TERC…”

Mid City Bank, Inc. v. Douglas Cnty. Bd. of Equalization, 616 N.W.2d 341 (Neb. 2000). “” Section 77-118 defines “Nebraska adjusted basis” as “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…”

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