Nebraska Farm Bureau Submits Plan to Reduce Property Taxes
(KTNC) - The Nebraska Farm Bureau has submitted a three-year plan to a state legislative committee calling for a reduction in property taxes. Farm Bureau President Steve Nelson the plan would cut agricultural land values from the current 75% to 65% and direct more money to the property tax credit program. He says Nebraska's property taxes account for 45-percent of all taxes collected and in the first year their plan calls for cutting that to 40-percent.
In the second year, Nelson says the plan calls for removing all community colleges from the property tax rolls, reducing the personal property tax on ag commercial and ag industrial equipment and expanding the homestead exemption to all homeowners. Down the road, the proposal calls for broadening the tax base, primarily by expanding sales taxes.
Nelson says the property tax savings in the first year would amount to $160-million, with $300-million saved in the second year and more than $400-million in the third year and each year after.
© Nebraska Radio Network
MOST VIEWED STORIES
Effingham woman killed Friday in Atchison wreck
Atchison man involved in fatal NW MO crash
One injured in Nemaha Co wreck
One hospitalized, one jailed, after Atchison attack
Wetmore man arrested on child sex-related charge
Walnut Township Treasurer removed; votes unofficial until canvass
Rural Horton man arrested on multiple drug charges
Street lights to be discussed at Monday city meeting
Meteorologist Spencer: Geometric Watch means electronic disruptions
Two file to challenge local legislator
USD 430 Board accepts resignations, approves new hires
TX man to stand trial on charges in fatal Jackson Co crash
Local judge files for re-election
Atchison in running for national fireworks honors
Truck fire at CGB facility in Falls City
BC's Pate remembered by students, college family
Bridge work begins Wed in Doniphan Co
LATEST STORIES
Marshall Co Commissioner files for re-election
Contested races in Tuesday Primary Election in Nebraska
One hospitalized, one jailed, after Atchison attack
Flags to fly half staff Wednesday across KS
Two file to challenge local legislator
Atchison man involved in fatal NW MO crash
Effingham woman killed Friday in Atchison wreck
RELATED STORIES
USDA Boss Blasts Railroads for Rail Car Shortage
More Storms Possible this Weekend
Red Cross says Learn to Swim Before Heading to Pool or Lake
Morel Mushroom Season Underway in Nebraska
Nebraska Among States Considering Legalizing Industrial Hemp
Fewer Cancer Specialists Practicing in Rural Areas
Ex-Worker in Beatrice Abuse Case Gets Prison Time
Study Shows Drop in Nebraska Groundwater Levels