Supporters of property tax cuts in Nebraska say they will take into account what those cuts mean for school financing.
State Senator Lydia Brasch of Bancroft sponsored a bill that would reduce the assessed value at which agricultural land is taxed from the current 75-percent to 65-percent…as well as a companion bill that would return 20-percent of the state income taxes collected within a local school district to that district.

It would also remove the minimum tax levy penalty that punishes school districts for lowering tax levies below a certain level.

The Nebraska Farm Bureau estimates Brasch’s legislation would reduce property taxes overall by 80-Million dollars.