LINCOLN- Property owners could get an estimated $3 billion worth of property tax relief over the next six years after the Nebraska Legislature's Revenue Committee passed a substantial package of bills. Members of the Committee voted 7-0 to send an amended version of LB243 to the floor of the Legislature, a bill introduced by Sen. Tom Briese that combines several measures to increase Nebraska's two property tax credit programs.

If fully passed, the bill would also cap school property taxes and eliminate all community college property taxes. The package represents the second major piece of Gov. Pillen's tax cut and school aid plan. The Revenue Committee advanced the first package of income tax cuts last week. The last of Pillen's plan, a bill to make changes in state aid to K-12 schools, is currently pending before the Legislature's Education Committee.

Briese, who has long targeted property taxes with legislation, said this year's property tax package would offer "tax relief for everyday Nebraskans." During a committee hearing, Briese cited estimates showing that LB243 would cut the amount Nebraskans pay in property taxes by the same amount the income tax package is expected to.

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