Statement by Mark McHargue, President, Regarding Unprecedented Property Tax Relief
LINCOLN, NEB. – “Today is a good day for all Nebraskans who have continued to bear the brunt of high property taxes, particularly our state’s farm and ranch families. This morning’s announcement by the Nebraska Department of Revenue shows that state revenue numbers will boost property tax relief even more with the Property Tax Incentive Credit. Nebraska Farm Bureau estimates taxpayers will see a tax credit equal to 22 percent of their property taxes paid to schools when they file their 2021 tax return. This is 3.5 times the amount they received this tax year.”
“Nebraska Farm Bureau was proud to have been recognized by Gov. Ricketts for its efforts to secure the passage of LB 1107 in 2020. This was a priority bill for Nebraska Farm Bureau, which allowed Nebraskans to claim, for the first time, the new income tax credit based on the property taxes they pay to K-12 schools.”
“This is a big ‘win’ for property taxpayers who’ve been seeking relief. We look forward to continuing to work with the governor and the Legislature to move Nebraska in the right direction in lowering some of the highest property tax burdens in the nation.”
The Nebraska Farm Bureau is a grassroots, state-wide 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 58,000 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. For more information about Nebraska Farm Bureau and agriculture, visit www.nefb.org.