(a) If there is any unit owner other than a declarant, each unit that has been created, together with its interest in the common elements, constitutes for all purposes a separate parcel of real estate. (b) If there is any unit owner other than a declarant, each unit must be separately taxed and assessed, and no separate tax or assessment may be rendered against any common elements for which a declarant has reserved no development rights. (c) If there is no unit owner other than a declarant, the real estate comprising the condominium may be taxed and assessed in any manner provided by law.
Neb. Rev. Stat. § 76-829
Unit; separate treatment; taxation
Applied in 1 court decision — leading case First Main Street Corp. v. Board of Assessors (2000)
Most recently applied in First Main Street Corp. v. Board of Assessors (March 2000)
Laws 1983, LB 433, § 5.
Official source: Nebraska Legislature. Reproduced from public-domain Nebraska statutes; confirm against the official source for the current text. Not legal advice.