Lincoln, Neb. — Farmers, ranchers and homeowners throughout Nebraska are likely to get more state money next year to offset their property tax bills, but it won’t make a big difference for many people and that’s leaving some lawmakers exasperated as this year’s legislative session nears its end.
The new state budget awaiting a final vote in the Legislature provides a major boost to the Nebraska property tax credit, which helps reduce the total tax bill sent to property owners.
However, the tax savings would be relatively small or even non-existent, given rising property values and local governments eager to make use of the tax dollars while holding their levies flat. An unknown amount of the tax credit would go to out-of-state landowners.
Lawmakers will try again this week to approve a larger property tax package, but they may have to scale it back to win support.