Nebraska Governor Pete Ricketts is trying to calm Nebraska agricultural leaders’ fears about what type of tax relief package might come out of this legislative session.

The Nebraska Agriculture Leaders Working Group says a Revenue Committee proposal to take money from the property tax credit fund and use it to fund income tax cuts is “the exact opposite” of what the group wants to see done.  They want to the legislature to focus on property tax relief.

But Ricketts says a cut to the state income tax is a key to tax cut legislation moved forward. . .

Ricketts says it is likely it will take a combination approach to get tax relief this year. . .

Ricketts wants a cut to the top income tax rate. He also is pushing for a change in how agricultural land is assessed for property tax purposes, shifting from a market-based formula to one based on income potential.