Nebraska Farm Bureau estimates the average Nebraska farm/ranch received an additional $1,000 in property tax relief in 2020 due to the passage of LB 1107. The bill established a new refundable income tax credit for property owners based on the amount of property taxes paid to K-12 schools. The amount of that credit could double in 2021, but only if lawmakers adopt a budget that triggers additional LB 1107 tax relief. Contact your state senator today! Make sure you get the maximum amount of tax relief in 2021!