“We are extremely disappointed the Nebraska Legislature’s Revenue Committee has voted not to advance LB 670 from committee. The decision made today is a blow to the hundreds of Nebraska farm and ranch families that took the time and effort to attend public hearings across the state this past fall to share their concerns about the ever growing property tax burden.”
“LB 670 would help alleviate property tax pressure by lowering the value of agricultural land from 75 percent of value to 65 percent of value for taxation purposes through a three-year phase in period.”
“The Revenue Committee’s decision is disheartening based on the fact that Nebraska farmers and ranchers pay the third highest property taxes in the U.S. It is also widely known that Nebraska taxes agricultural land at a much higher rate than neighboring states. And in terms of equity in our tax system, farmers and ranchers account for less than three percent of our state’s population, but have watched as their share of statewide property taxes paid has grown from 18 percent to 26 percent since 2006.”
“Despite the Revenue Committee’s decision today, it is our hope the Legislature will refocus its efforts to provide the meaningful property tax relief that was called for by so many Nebraska farm and ranch families.”
The Nebraska Farm Bureau Federation is a grassroots, statewide organization dedicated to supporting farm and ranch families and working for the benefit of all Nebraskans through a wide variety of educational, service and advocacy efforts. More than 56,000 families across Nebraska are Farm Bureau members, working together to achieve rural and urban prosperity as agriculture is a key fuel to Nebraska’s economy.
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