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Nebraska senators refine Ricketts' property tax plan

Mar 4, 2016

LINCOLN, Neb. (AP) — A legislative committee is shifting away from Nebraska Gov. Pete Ricketts' tax proposals and toward alternative solutions as farmers and ranchers clamor for property tax relief.

The Legislature's Revenue Committee voted Thursday to reject part of Ricketts' plan that would prevent the combined taxable value of the state's agricultural land from growing by more than 3 percent annually.

Chairman Mike Gloor of Grand Island says the concept was difficult to explain to the public, and committee members didn't think it would steer money to where it is most needed.

Committee members are instead looking at legislation to slow property tax increases by using the average valuation over five years to calculate a property owner's tax burden.

The bill is LB958.

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