Nebraska Property Tax Package Could Include Income Tax Cut
March 15, 2019 9:23AM CDT
Nebraska lawmakers are starting to shape a property tax package that could include an income tax cut as well as a tobacco tax increase and a sales tax imposed candy and soft drinks.
Members of the Revenue Committee floated the ideas Thursday during an executive session. The plan would provide more than $509 million in its first year to reduce the amount home- and landowners have to pay in property taxes.
Sen. Lou Ann Linehan, the committee’s chairwoman, says the income tax cut could help build enough support to pass the measure. Property tax measures have stalled over the last several years.
The package could include an increase in tobacco taxes. It also might eliminate sales tax exemptions for zoos, soft drinks and candy.