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Governor Ricketts Discusses Property Tax Relief

By John Nixon

02/25/2016

(KLZA)-- During an interview with MSC News Wednesday, Nebraska Governor Pete Ricketts, reiterated that property tax relief is his top priority.

Ricketts says government spending, including education is growing at a rate of 20-percnet faster than the states student population.

Ricketts bills to help ease the states dependency on property taxes were introduced by Revenue Committee Chairman Gloor and Education Committee Chair Sullivan. The Governor explained limiting budget carryover from one year to the next, how much schools can put in cash reserves each year and limiting the school aid formula to 98% to 105% of student growth annually are some of the steps proposed to ease the property taxes.

Rural schools, like Falls City have lost millions of dollars in state aid in recent year. Ricketts says they have heard during hearings from schools opposed to the proposal. The Governor is currently working on amendments to the proposal following hearing testimony.

The Governor has proposed limiting the annual growth of ag-land valuations. The bill would limit ag-land valuations to three percent a year on average. That should help balance out over time, making more rural schools eligible for equalization monies.

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