A webinar scheduled for Thursday at noon will cover the recent property tax legislation enacted in the closing days of the Nebraska Legislature’s last session.
The compromise passed in the session establishes a refundable state income tax credit of an estimated 6% of property taxes paid for local schools (excluding taxes for school bonds and budget overrides). Taxpayers will be able to claim this credit on next year’s state income tax return. In the coming years, the refundable state credits could eventually rise to as much as 18% of property taxes paid to local schools.
The webinar will cover events leading to the new legislation and what it means for Nebraskans, including details on how to estimate potential refund amounts. The presentation will be led by David Aiken, professor and agricultural law specialist in the University of Nebraska-Lincoln’s Department of Agricultural Economics. It is presented as part of the Agricultural Economics Extension Farm and Ranch Management weekly webinar series.
Registration is free and can be completed at farm.unl.edu/webinars.