Nebraska State Senators are taking up tax reform legislation today and will be voting on LB 461 which is backed by the Governor. The bill calls for mostly income tax relief, but farm groups say it does little to help relieve property taxes. State Farm Bureau President Steve Nelson says his group can’t support LB 461 in its current form.

Robert Johnston with the Nebraska Soybean Association testified before the revenue committee on tax relief measures. He says what’s needed is property tax relief and not reform which is what he says the Governor is seeking with LB 461.

Nebraska Pork Producers Association Vice President Kevin Peterson says he needs property tax relief because he pays a high tax bill that includes dryland and irrigated cropland, as well as equipment and buildings.

Nebraska Farm Bureau Senior Economist Jay Rempe says LB 461 will result in some reductions in ag land valuations for one year. However, he says the bill will do little to change the three-legged stool of property, income and sales tax levels.