LINCOLN — With the start of the 2020 state legislative session on Wednesday, a committee appears to have reached agreement on a proposal to gradually reduce local property taxes.

The plan, drafted mainly by State Sen. Lou Ann Linehan of Elkhorn, would increase state aid to K-12 education by about $530 million over three years, while seeking to reduce property taxes a like amount by lowering the valuation of property for school tax purposes.

The property tax relief would be delivered mainly through new “foundation aid,” which would send school districts $695 in state aid per student in the first year and increase that to $2,265 by the third year.

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