Nebraska Revised Statutes

Neb. Rev. Stat. § 77-1371 (2026)

Comparable sales; use; guidelines

✓ current as of July 2026

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Comparable sales are recent sales of properties that are similar to the property being assessed in significant physical, functional, and location characteristics and in their contribution to value. When using comparable sales in determining actual value of an individual property under the sales comparison approach provided in section 77-112, the following guidelines shall be considered in determining what constitutes a comparable sale:

(1) Whether the sale was financed by the seller and included any special financing considerations or the value of improvements;

(2) Whether zoning affected the sale price of the property;

(3) For sales of agricultural land or horticultural land as defined in section 77-1359, whether a premium was paid to acquire property. A premium may be paid when proximity or tax consequences cause the buyer to pay more than actual value for agricultural land or horticultural land;

(4) Whether sales or transfers made in connection with foreclosure, bankruptcy, or condemnations, in lieu of foreclosure, or in consideration of other legal actions should be excluded from comparable sales analysis as not reflecting current market value;

(5) Whether sales between family members within the third degree of consanguinity include considerations that fail to reflect current market value;

(6) Whether sales to or from federal or state agencies or local political subdivisions reflect current market value;

(7) Whether sales of undivided interests in real property or parcels less than forty acres or sales conveying only a portion of the unit assessed reflect current market value;

(8) Whether sales or transfers of property in exchange for other real estate, stocks, bonds, or other personal property reflect current market value;

(9) Whether deeds recorded for transfers of convenience, transfers of title to cemetery lots, mineral rights, and rights of easement reflect current market value;

(10) Whether sales or transfers of property involving railroads or other public utility corporations reflect current market value;

(11) Whether sales of property substantially improved subsequent to assessment and prior to sale should be adjusted to reflect current market value or eliminated from such analysis;

(12) For agricultural land or horticultural land as defined in section 77-1359 which is or has been receiving the special valuation pursuant to sections 77-1343 to 77-1347.01, whether the sale price reflects a value which the land has for purposes or uses other than as agricultural land or horticultural land and therefor does not reflect current market value of other agricultural land or horticultural land;

(13) Whether sales or transfers of property are in a similar market area and have similar characteristics to the property being assessed; and

(14) For agricultural land and horticultural land as defined in section 77-1359 which is within a class or subclass of irrigated cropland pursuant to section 77-1363, whether the difference in well capacity or in water availability due to federal, state, or local regulatory actions or limited source affected the sale price of the property. If data on current well capacity or current water availability is not available from a federal, state, or local government entity, this subdivision shall not be used to determine what constitutes a comparable sale.

The Property Tax Administrator may issue guidelines for assessing officials for use in determining what constitutes a comparable sale. Guidelines shall take into account the factors listed in this section and other relevant factors as prescribed by the Property Tax Administrator.

Notes of Decisions

Cited in 10 cases (4 in the last 5 years), 2001–2024 · leading case: Betty L. Green Living Trust & Richard R. Green Living Trust v. Morrill Cnty. Bd. of Equal., 299 Neb. 933 (Neb. 2018).

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Betty L. Green Living Trust & Richard R. Green Living Trust v. Morrill Cnty. Bd. of Equal., 299 Neb. 933 (Neb. 2018). · cites it 2× “" Section 77-112 provides, "Actual value may be determined using professionally accepted mass appraisal methods, including, but not limited to, the (1) sales comparison approach using the guidelines in section 77-1371, (2) income approach, and (3) cost approach.”

Cain v. Custer Cty. Bd. of Equal., 315 Neb. 809 (Neb. 2024). · cites it 3× “54 See Neb. Rev. Stat. § 77-1371 (Reissue 2018).”

Lincoln Cty. Bd. of Equal v. W. Tabor Ranch Apts., 991 N.W.2d 889 (Neb. 2023). · cites it 4× “Generally, a county assessor may determine actual value using (1) the sales comparison approach under Neb. Rev. Stat. § 77-1371 (Reissue 2018), (2) the income approach, (3) the cost approach, or (4) any professionally accepted mass appraisal method.”

Schuyler Apt. v. Colfax Cnty., 783 N.W.2d 587 (Neb. 2010). · cites it 2× “Actual value may be determined using professionally accepted mass appraisal methods, including, but not limited to, the (1) sales comparison approach using the guidelines in section 77-1371, (2) income approach, and (3) cost approach.”

Shaul v. Lang, 640 N.W.2d 668 (Neb. 2002). · cites it 7× “Neb. Rev. Stat. §77-1371 (2000 Cum. Supp.”

Cnty. of Webster v. Nebraska Tax Equal. & Rev. Comm., 296 Neb. 751 (Neb. 2017). · cites it 2× “54 Neb. Rev. Stat. § 77-1371 (Cum. Supp. 2016).”

Betty L. Green Living Trust v. Morrill Cty. Bd. of Equal., 299 Neb. 933 (Neb. 2018). · cites it 2× “933 comparison approach using the guidelines in section 77-1371, (2) income approach, and (3) cost approach.”

Firethorn Inv. v. Lancaster Cnty. Bd. of Equalization, 622 N.W.2d 605 (Neb. 2001). · cites it 7× “Stanley stated the policy of the county assessor’s office was to always disqualify sales to or from governmental entities under Neb. Rev. Stat. § 77-1371 (Reissue 1996).”

Dodge Cty. Bd. of Equal. v. The Kroger Co. (Neb. Ct. App. 2024). · cites it 2× “” Generally, a county assessor may determine actual value using (1) the sales comparison approach under Neb. Rev. Stat. § 77-1371 (Reissue 2018), (2) the income approach, (3) the cost approach, or (4) any “professionally accepted mass appraisal method.”

Cheyenne Cty. Bd. of Equal. v. Mietus (Neb. Ct. App. 2024). · cites it 2× “” Section 77-112 defines actual value as “the market value of real property in the ordinary course of trade.”

— Neb. Rev. Stat. § 77-1371(3) — 1 case

Shaul v. Lang, 640 N.W.2d 668 (Neb. 2002). “Neb. Rev. Stat. §77-1371 (2000 Cum. Supp.”

— Neb. Rev. Stat. § 77-1371(5) — 1 case

Cain v. Custer Cty. Bd. of Equal., 315 Neb. 809 (Neb. 2024). “54 See Neb. Rev. Stat. § 77-1371 (Reissue 2018).”

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