Originally Posted by NY Annie
but you are basing your "valuation" of property on the sale price, not on the taxable valuation; I believe.
I remember our house in N. K. was taxed based on 75% of the valuation.
It's not based on the sale price, but the tax assessor's valuation of the property. In some cases it's more, some cases less than the sale price. In Omaha and Lincoln it's based on 100% of the tax assessor's valuation.