LINCOLN- Gov. Ricketts has made it abundantly clear that he is not done pushing for lower property taxes. He will be pursuing legislation that will place limits on school spending during the 2021 session. That was something he believed was left out of the property tax relief bill which passed last session. He maintains that spending limits are the only way the increased state credits will result in lower property tax for home owners.

A school board member says he does not understand the need for the limits, he says "We are pinching every penny."

LB1107 established a refundable income tax credit which would allow Nebraskans to receive a refund on a portion of what they pay in property taxes to support K-12 schools. This year, Nebraskans will be able to claim the new credit which will deliver $125 in relief. This addition will total $650 million in state funds devoted to offsetting property taxes. This will represent a 21% reduction for a farmer and a 17% reduction for the urban homeowner. The bill was a result of a compromise the legislature reached on three issues. It also included a revamping of state business initiatives and a pledge to devote state money if UNMC is chosen as the site of a national center to respond to disasters and emergencies.

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