LINCOLN- Habitat for Humanity of Omaha calls it the “equity promise.” It’s new, and essentially a “pay-it-forward” pact in which the nonprofit’s homebuyer clients who receive downpayment and other assistance agree to certain resale restrictions designed to keep a house affordable for generations to come. A problem Habitat saw in crafting the promise last year, however, was that property taxes owed by the homeowner could be thrown out of whack.

Enter 2024 legislation pushed by State Sen. Eliot Bostar of Lincoln, which is now law and allows such sales-restricted houses a property tax break via a special method that “stabilizes” values in recognition of limited marketability. “It’s a huge, huge deal for the people it fits,” said Amanda Brewer, CEO of Omaha Habitat. “This is ensuring that there are affordable places where people can own a home in Omaha for the next 50 years.”

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