Tax Relief Means Nothing without Property Valuation Limits

I’ve heard from many of you about the extreme property valuation increases you have recently
received. First off, let me assure you that these increases WERE NOT mandated by the Nebraska State
Legislature. Yearly property valuations of real estate are made by your local County Assessors, not by
the Nebraska Legislature.

Second, as an owner of real estate in Nebraska, you have the right to protest the new valuation of your
property. However, you do have a short period of time to do so. As of now, valuation protests must be
filed on or before Friday, June 30, 2023. Here is a helpful link from the Nebraska Department of Revenue
on how to file a valuation protest in your county:

We here at the Nebraska Legislature have worked hard in the past few years to give Nebraskans the
property tax relief they have demanded.

• In 2020, the Nebraska Legislature created the Nebraska Property Tax Incentive Act which provides for a refundable income tax credit beginning in tax year 2020. This credit is available to those that pay school district real property taxes in Nebraska. The credit is determined by multiplying the amount of school district taxes, defined by the Act as property taxes levied on real property in Nebraska by a school district or multiple district school system, excluding property taxes levied for bonded indebtedness or any levy override approved by voters, by a credit percentage. This credit percentage was 6% for 2020. For tax year 2022, the credit percentage equals 30% of property taxes paid to schools and community colleges.

• In 2022, the Nebraska Legislature passed a bill that expanded the Nebraska Property Tax Incentive Act to include taxes paid towards community colleges.

• In 2023 the Nebraska Legislature passed a bill that restricts the amount school districts can increase the property tax rate and narrowed the scope of what community colleges can levee property taxes for. Schools and community colleges are two of the biggest users of property taxes so these changes will provide property tax relief.

• In 2023, the Nebraska Legislature passed a bill that will increase the minimum amount of relief granted under the Property Tax Credit Act from the current $275 million to $475 million by tax year 2028.

With the above relief, an average Nebraska farm, owing $29,000 in property taxes, is eligible for over
$8,000 in total tax credits – a 28% reduction. A standard $250,000 home, owing $5,000 in property
taxes, is eligible for over $1,000 in total tax credits – a 20% reduction. And while these saving were
brought to you as the result of the Nebraska Legislature’s hard-working efforts outlined above, none of
this property tax relief means anything if the property valuation increases occurring at the county level
are not brought under control. A $1,000 tax credit means nothing if you’re property taxes goes up by
$2,000 or more.

As always, I welcome your input on issues important to you. Follow along on my Facebook and Twitter pages, both entitled “Senator Julie Slama” for more updates, or contact me directly at Senator Julie Slama, District 1 State Capitol, PO Box 94604, Lincoln NE 68509-4604; telephone: 402-471-2733; email:

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