LINCOLN — New industry estimates show that casino gambling could give Nebraskans significantly more property tax relief than advocates touted during last year’s successful campaign to legalize expanded gambling.

One source put the amount at about $63 million annually from casinos planned at the state’s six existing horse racetracks. Another projects it at closer to $82 million for those casinos — or as much as $98 million if two more track/casino combinations were built.

All three figures top the $45.5 million that supporters estimated casino legalization would add to the state’s Property Tax Credit Fund each year.

Nebraska became the newest state to legalize casinos last year, when voters passed a trio of ballot initiatives. The measures included a constitutional amendment allowing casino gambling at licensed horse racetracks and laws regulating the casinos and earmarking tax revenue for property tax relief.

Under those laws, the casinos are to pay a 20% tax on gross gambling revenue.

The state’s long-standing Property Tax Credit Fund, which offsets a portion of property tax bills, will get 70% of those taxes. The fund will provide $300 million worth of credits this fiscal year, using money collected from sales, income and other taxes.

Lance Morgan, president, and CEO of Ho-Chunk Inc., the economic development arm of the Winnebago Tribe of Nebraska, said the revenue estimate used during the campaign focused primarily on the Omaha, Lincoln and South Sioux City areas. He said newer projections put the revenue closer to $450 million, bringing the property tax relief portion to about $63 million.

Sean Boyd, president of Global Gaming Nebraska, estimated that casinos at the six current tracks could produce almost $583 million in revenue and almost $82 million for property tax relief. Adding casinos to potential tracks in North Platte and Gering would push revenue to about $698 million and the property tax money to about $98 million.

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