Bill > LB575

This bill modifies provisions of the Property Tax Request Act and property tax levy limits in Nebraska, primarily changing two key aspects. First, it alters the timing of joint public hearings for political subdivisions seeking to increase property tax requests, shifting the hearing window from September to July (specifically between July 14 and 24). Second, the bill introduces a new provision that restricts political subdivisions' ability to increase property tax levies when the total taxable valuation of property increases, effectively limiting them to raising the same total amount of property taxes as the previous year. Under this new rule, a political subdivision can only exceed this limit if at least two-thirds of its governing body votes to do so. The bill applies to various local government entities like counties, cities, school districts, and community colleges, and requires detailed public notification and transparency about proposed tax increases, including mailing postcards to property owners with specific information about the potential tax changes. The changes are designed to provide more timely public input and control over local property tax increases, with an emergency clause making the act effective immediately upon passage.

Budget and Finance

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=59772