Nebraska Governor Pete Ricketts made his case for a major change in how farmland is assessed during a legislative public hearing.
Ricketts told members of the Revenue Committee it is time for Nebraska to assess agricultural land on an income potential basis rather than a market basis. . .
Ricketts says such a change would prevent the big spikes in farmland valuations, which rose 137-percent between 2003 and 2013.
Ricketts says he’s willing to listen to other proposals. . .
Agricultural groups say property taxes have spiked in Nebraska even as farm income has dropped.
