property taxes

Financial Times

Media mogul and billionaire bison rancher Ted Turner is donating an 80,000-acre ranch he owns in western Nebraska to a nonprofit agriculture ecosystem research institute and says he might do the same with four other ranches in Nebraska’s Sand Hills. But he says he'll continue to pay taxes on the land. The Omaha World-Herald reports that news comes as a relief to state and local officials who had feared Turner might donate the nearly 500,000 acres of Nebraska ranchland he owns and remove them from property tax rolls. Turner Enterprises Inc.

New Two Year State Budget Signed Into Law

Apr 27, 2021

Nebraska Gov. Pete Ricketts has signed a new, $9.7 billion two-year state budget into law that includes property tax credits and money to potentially build a new state prison. Ricketts praised several aspects of the budget, including $1.45 billion in state money that will be used for various property tax reduction programs. The budget will grow by 1.7% annually over the two-year period. Ricketts did not veto any portion of the budget. 

Omaha Daily Record

Home prices in Omaha are on the rise despite the ongoing pandemic.  The Housing Price Project at the University of Nebraska at Omaha shows the average price of single-family home rose by more than ten-percent in 2020. That's a nearly eight percent jump compared to the previous 20 years. 


Nebraska Legislature

A Nebraska lawmaker is urging her colleagues to create a state commission to study how to pay for K-12 public schools, an issue that has become contentious as some senators push for lower property taxes. Sen. Wendy DeBoer, of Bennington, says the commission could look for ways to pay for schools other than property taxes while still providing equal educational opportunities to children around the state. The commission would present its preliminary findings back to lawmakers in 2022.

LINCOLN, Neb. (AP) — A Nebraska lawmaker is proposing a state takeover of K-12 public education funding as a way to lower property taxes. Sen. Tom Briese, of Albion, introduced a constitutional amendment that would require state government to pay for local schools. Currently, public schools are financed through a combination of state aid and local property taxes. Briese says rising property taxes are driven by the state’s unwillingness to adequately fund schools. His proposal would place the issue on the 2022 general election ballot, where voters would decide whether to approve it.

Nebraska lawmakers have approved new tax credits for homeowners, farmers and businesses and put more restrictions on abortions as they finish a session marred by ugly public disputes and criticism that they didn’t do enough to address the coronavirus pandemic. The 60-day session ended after several last-minute, unsuccessful attempts to derail the tax and abortion bills. Lawmakers gave both measures final approval and sent them to Gov. Pete Ricketts, who’s expected to sign them. Lawmakers convened as normal in January but suspended their session in March out of concern about the pandemic.

Street Proposal Goes Before Council

Jan 29, 2020

Omaha Mayor Jean Stothert's proposed 200-million-dollar bond is being considered by the City Council.  The bond proposal calls for 75-million-dollars per year to be spent on road repairs.  Stothert says if the bond is approved, the owner of a 100-thousand-dollar home would pay about 26-dollars in year in property taxes.  The City Council will hold a public hearing on the bond next Tuesday.

LINCOLN, Neb. (AP) — Nebraska will get an extra $266 million in tax revenue for the state budget between now and June 2021, based on new estimates that could give lawmakers more wiggle room to pay for state government services and cut property taxes.

Members of the Nebraska Economic Forecasting Advisory Board approved the new projections Thursday, citing a strong state economy.

Under state law, about $161 million of that total will flow automatically into the state's cash reserve fund, which is designed for emergencies and one-time expenses.

LINCOLN, Neb. (AP) — Nebraska lawmakers who pledged to lower property taxes are getting ready to try again with a proposal that would boost state aid for K-12 public schools while restricting the districts' taxing power.

The tentative proposal, which is largely opposed by educators, closely resembles one lawmakers considered earlier this year. Its sponsors said they're working to address school officials' biggest concerns.

(Lincoln, NE)  --  The Nebraska Department of Revenue is reporting its tax revenue totals for the 2018-to-2019 fiscal year.  The state said it collected about four-point-nine-billion dollars in net taxes.  That's about 180-million dollars more than what was projected.  Governor Pete Ricketts issued a statement saying the state closed out the fiscal year in a strong financial position, and that continued growth sets Nebraska on a path to property tax relief.

LINCOLN, Neb. (AP) — Nebraska Gov. Pete Ricketts isn't giving up his push to lower property taxes even though lawmakers rejected several proposals this year.

With the 2019 session now over, the Republican governor says he plans to meet with key lawmakers this summer in search of a new property tax compromise before the Legislature reconvenes in January.

But Ricketts is standing firm in his opposition to any proposal that lowers one tax by raising another.

Nebraska lawmakers will end their session this week with a new state budget and dozens of laws passed, but many priorities fell by the wayside and sent senators back to the drawing board.

A few of those measures could end up before voters in the 2020 general election. In most cases, lawmakers will work over the summer and fall to tweak their bills in hopes of winning more support in next year's session.

Lawmakers have advanced a proposal to replace Nebraska's largest tax incentive for businesses with a newer program despite concerns from some who want to focus first on property taxes.

The bill won first-round approval yesterday on a 29-5 vote after supporters overcame a legislative filibuster.

A new two-year state budget is headed to a final vote in the Nebraska Legislature.

Lawmakers advanced the mainline budget Wednesday through the second of three required votes.

The $9.3 billion budget includes additional money for expanding Medicaid, K-12 sc

 hools, construction of new prison space and property tax credits.

No Action On Property Tax Package

May 8, 2019

(Lincoln, NE)  --  No action is being taken on Nebraska's proposed property tax bill.  The state senate debated the measure yesterday, but moved on to other issues without taking a vote on the proposal.  The measure calls for raising sales taxes, generating an extra 500-million-dollars for public schools, doing away with nearly 20 sales tax exemptions and lowering property taxes.  Supporters of the bill are considering options including new amendments in an effort to bring the bill back for additional debate. 

Property Tax Relief Group Kicks Off Effort

May 2, 2019

(Lincoln, NE)  --  A group seeking property tax relief for Nebraska residents is kicking off its efforts.  TRUE Nebraskans LLC began its effort yesterday on the steps of the State Capitol in Lincoln.  Group volunteers have a goal to collect 125-thousand signatures to put a constitutional amendment on the 2020 ballot.  The group's measure would give a 35-percent rebate on property tax bills in the form of an income tax credit.

A Nebraska legislative committee is nearly finished with its proposal to lower property taxes by raising other taxes and boosting state aid to K-12 public schools.

Members of the Revenue Committee continued debate Monday on their package, but it's not clear whether every member will support it. Sen. Lou Ann Linehan, the committee's chairwoman, says she hopes to vote on it Tuesday.

The package would reduce property taxes by an average of 20 percent, although the exact amount would vary throughout Nebraska.

Iowa House Debates, Passes Property Tax Increase Cap

Apr 26, 2019

  Members of the Iowa House are likely dragging their feet today after a late-night debate over property taxes.  A measure was passed just before three o'clock this morning that would cap property tax increases at two percent per year.  Any increase above that could be denied with a two-thirds vote in the city council or county board.  The Senate passed the bill yesterday and it's now in the hands of Governor Kim Reynolds.


Governor Criticizes Tax Vote

Apr 25, 2019

(Lincoln, NE)  --  Nebraska Governor Pete Ricketts is criticizing lawmakers for a plan to reduce property taxes.  The governor's comments came after the legislature's Appropriations Committee voted Tuesday to cut in half the 51-million-dollars Ricketts wanted to add to the state property tax credit program.  Ricketts says the latest legislative tax proposal could lead to lower property taxes in the short-term, but the state would end up with higher property and sales taxes long-term.      

LINCOLN, Neb. (AP) — Nebraska lawmakers have unveiled a new plan to reduce property taxes by boosting state aid for K-12 schools, raising the state sales tax and eliminating tax exemptions.

Members of the Revenue Committee announced the proposal Wednesday but say it's still subject to change.

The measure would increase state equalization aid to schools from roughly $1 billion to $1.5 billion a year in an effort to reduce the taxes schools generate through local property taxes. School property taxes would decline by an average of 20 percent.

(Lincoln, NE)  --  Nebraska lawmakers are revealing a plan to lower property taxes.  The proposal, which was unveiled yesterday, calls for increasing state sales taxes by three-fourths of a cent and cigarette taxes by 36-cents per pack to one dollar.  Officials say the proposal would result in a 20-percent decrease in local property taxes, which would provide about 540-million-dollars per year in property tax relief.

LINCOLN, Neb. (AP) — Nebraska Gov. Pete Ricketts is pitching his property and income tax plan to lawmakers while acknowledging that the package still needs some work.

LINCOLN, Neb. (AP) — A new attempt to reduce Nebraska property tax bills has opened a familiar divide between farm groups that have grown impatient with lawmakers and business groups that want income tax cuts in the mix.