Nebraska Department of Revenue figures released this week show the state’s property valuations for 2014 up 12. 45 percent overall from last year. They were caused mainly by a 29.12 percent increase in ag land valuations. Nebraska Farm Bureau’s Vice President of Government Relations Jay Rempe says that shows the need for even more property tax reform when the legislature meets next session. He says they tried this year and will make it an even higher priority next year.
Rempe says they attempted to get ag valuations lowered this session from 75 percent to 65 percent but that measure failed. He’s hoping more can be done next session although he credits Senators for taking some steps to relieve the tax burden.
Rempe says a thoughtful well planned tax reform measure needs to be brought to or by State Senators next session to help producers stay in business.