(Neb)-Ricketts Pitches Property Tax Plan To Revenue Committee
LINCOLN, Neb. (AP) - Governor Pete Ricketts pitched his plan to curtail sharp increases in property taxes to the Legislature's Revenue Committee Wednesday.
He's proposing increasing the annual funding for the state's Property Tax Credit program to at least $275 million dollars and a constitutional amendment to limit the growth of property tax revenue to 3% a year
Ricketts told the committee there are no easy fixes to the problem of high property taxes, especially for ag producers, but that his plan is a start.
It drew favorable reviews from some Nebraska farmers, but others said more is needed to help the agriculture industry.
Both groups told the committee that their property tax bills have surged over the last decade, hampering their ability to stay in business. One family said they moved their operation to Missouri because property taxes were lower there.
Some rural lawmakers say the larger issue for property taxes is the state funding formula for K-12 public schools, the largest consumer of local property taxes.
Back to News
Printer Friendly Version
Send Story to a friend.