LINCOLN- Nebraska's Unicameral passed legislation during this year's special session that could provide around $185 million in property tax relief. That represents around 3.5% of local property taxes that were collected in Nebraska last year. Gov. Jim Pillen initially called the special session with hopes of eliminating 40% of property taxes. The relief will come through a cap on how much local governments can collect through property taxes and a credit that is automatically deducted from property tax statements instead of having to be applied for.

At the Platte Institute’s Annual Legislative Summit, Speaker of the Legislature John Arch addressed a room of senators and policy analysts, saying the session didn’t achieve all of its goals, but what did pass will help Nebraskans. State income tax cuts that were passed by the legislature in 2023 will continue lowering tax rates in the years ahead. The rate for the highest tax bracket will fall to 3.99% percent by 2027. Michael Lucci, a senior policy advisor at the Platte Institute, said the income tax cuts are important to help the state attract workers as neighboring states like Iowa pass similar legislation.

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