The Nebraska State Legislature returns to their regular session next month with property tax relief being their key challenge. A super committee of State Senators has been working trying to find a compromise and is looking at a remake of LB 1106 which would put an extra $520 million in school aid to K-12 schools over three years and a corresponding decrease in local property taxes by a combination of new spending limits and a drop in valuations of land. Nebraska State Senator Steve Erdman says 1106 doesn’t do enough to address the property tax problem. He says the focus on relief must be on taxpayers themselves.
He says with farmers and ranchers facing the increasing level in property taxes along with the pandemic and low commodity prices the result will be the loss of businesses as well as producers.
Erdman says the solution Senators need to focus on is passing a consumption tax and replacing property, income and sales taxes with that.
Erdman says one of the main reasons achieving property tax relief is such a big challenge is that in order to pass that legislation takes the support of both the large schools and the chamber of commerce. He says getting that past the Governor would be the next hurdle.
