Recreational trail easement; taxpayer; apply for property tax exemption

(1) A taxpayer who encumbers their property with a perpetual recreational trail easement may apply for a property tax exemption for the portion of the property which has been encumbered with the easement as provided in section 77-202.01 . The forms for such applications shall be prescribed as provided in section 77-202.05 .

(2) Upon approval of the application for the exemption, the portion of the property encumbered with a perpetual recreational trail easement shall remain exempt from property taxes without requiring reapplication for the exemption until the property is no longer encumbered with a perpetual recreational trail easement.