Revamped Property Tax Relief Bill Approved by Revenue Committee

LINCOLN–(KFOR Aug. 13)–A revised draft of a property tax relief bill made it out of the Revenue Committee on Monday morning and was introduced on the floor of the Nebraska Legislature on Monday afternoon.

The revamped proposal would phase in levy limits on schools to 40 cents per $100 of valuation starting next year, 35 cents in 2026 and 30 cents after that. The two percent increases for ag machinery and business equipment have been scrapped and the proposed takeover of county jail costs by the state has been trimmed down to 50% reimbursement.

It advanced to the floor of the Legislature for debate on a 6-1-1 vote, with Lincoln Senator George Dungan voting no and Lincoln Senator Elliot Bostar not voting.