Lincoln-Gov. Pete Ricketts saluted the 2021 Legislature on Thursday for what he described as an historic record of tax reduction as it completed its regular session in a challenging pandemic year.

In an address to the Legislature, the governor hailed adoption of a new two-year state budget that will hold spending to 2.4% average annual growth. Legislative action in conjunction with his own budget recommendations will provide more than $430 million in property tax relief during each year of the coming biennium, he said.

Combined with increases in the current property tax relief fund and homestead tax exemptions, property tax relief will total nearly $1.7 billion over the next two years, the governor said.

Additional revenue measures approved by the Legislature, including tax cuts for retired military veterans and Social Security recipients, boost total tax reduction to more than $1.8 billion, Ricketts said.

"That's historic," he said. "That's the greatest amount of tax relief in a quarter-century," he said.

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