LINCOLN- The Nebraska Legislature's Revenue Committee advanced Legislative Resolution 2CA, a proposal that would allow voters to decide whether owner-occupied housing should be valued differently than other residential property, similar to agricultural land. If passed and approved by voters in the 2024 election, this constitutional amendment would enable the Legislature to define "owner-occupied housing" and set its valuation rate, potentially offering more tax relief and parity with agricultural land valuations. The resolution, introduced by State Senator Tom Brandt, has garnered support from several lawmakers, but it would require at least 30 votes in the Legislature to advance and may face delays if not approved in time for the 2024 ballot, potentially pushing it to 2026. "This is written simply to give the Legislature another tool," Brandt said.

State Senator Justin Wayne, a proponent of LR 2CA, believes the amendment could significantly impact future tax relief efforts, allowing lawmakers to engage with their communities on property tax issues ahead of the 2024 election. While Speaker John Arch has prioritized this resolution for debate, it faces competition from other constitutional amendments and requires additional companion legislation to meet the deadlines for the November 2024 ballot. If the amendment doesn't pass this session, Brandt has committed to reintroducing it in 2025 to ensure it eventually reaches voters.

The proposal has received mixed reactions, with concerns raised about its potential impact on renters, but proponents argue it is a crucial step toward achieving more equitable tax relief. The outcome of this legislative effort will depend on garnering sufficient support in the Nebraska Legislature, as well as navigating the procedural hurdles required to bring the amendment to voters in the next election cycle.

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