Nebraska Farm Bureau Tells Senators Property Tax Relief Key to Economic Recovery
LINCOLN, NEB. – Nebraska Farm Bureau is urging Nebraska state lawmakers to provide property tax relief as a key component of Nebraska’s COVID-19 recovery efforts. In a letter to senators, Nebraska Farm Bureau President Steve Nelson outlined how property tax relief would not only help Nebraska’s farm and ranch families struggling through some of the worst financial situations since the 1980’s farm crisis, but help put Nebraska on the right track to recover from the economic blow delivered to the state from the pandemic.
“Agriculture is the state’s largest industry and a major driver of the economy. One of every four Nebraska jobs come from agriculture and agriculture related businesses. It’s been proven time and again that when Nebraska agriculture does well, our state’s economy does well,” said Nelson. “Unfortunately, agriculture is struggling mightily. Many of our state’s farm and ranch families faced major financial challenges before COVID-19 hit, due to multiple years of depressed prices for commodities and ongoing market and trade disruptions. Last year’s flooding and blizzards worsened the situation and COVID-19 has only increased the severity. By providing property tax relief, the Legislature would not only be helping alleviate pressure on the largest business expense for many of our state’s food producers, but would make a sound investment in helping get the state of Nebraska back on its feet.”
Economic analysis conducted by the Nebraska Farm Bureau projects Nebraska could experience upwards of $3.7 billion in COVID-19 related agricultural losses in 2020.
“We recognize senators have many priorities to consider, however, property tax relief must come first or at a minimum be included within a negotiated legislative package where state funds for property tax relief are equitable to dollars allocated for other measures aimed at generating economic stimulus for our state,” said Nelson. “Property tax relief would go a long way in restoring stability to Nebraska’s economy and ensuring the well-being of countless Nebraskans.”
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.
