Nebraska Governor Pete Ricketts says the refundable property tax credit as proposed in the TRUE Nebraska petition drive isn’t a bad idea, but says he doesn’t believe the plan as presented by organizers would lead to long-term tax relief.
Ricketts says if the constitutional amendment is passed “as-is”, it would be easy for lawmakers to just raise other taxes to pay for it.
He tells KNEB News the issue really is more complex than petition supporters may present it to be. “There’s not going to be one single, ‘silver-bullet’ solution that’s actually going to work, such as this petition drive,” says Ricketts. “There are going to be a number of things we need to do, like look at the way we value agland, look at things such as reforming the school-aid formula so all of our schools are participating. Those are the sort of ideas we need to continue to look at make progress on the issue every year.”
Ricketts says it will take some time for serious consideration of long-term and structural changes needed to bring about a solution that works for everyone.
The Governor previously proposed a similar direct property tax credit for landowners, however it would have been phased in to ease the impact on the state’s budget.