Bill > LB692

This bill modifies provisions of the School District Property Tax Limitation Act, specifically changing how school districts calculate and carry forward their property tax request authority. Under the revised law, when calculating a school district's property tax request authority, the department will now subtract any amount by which the district's property tax request exceeded its authority in the previous year. The bill also restricts how unused property tax request authority can be carried forward, explicitly excluding increases resulting from the district's base growth percentage. Essentially, this means school districts will have more precise calculations of their allowable property tax requests, with stricter rules about how they can bank unused tax authority for future years. The changes aim to provide more transparent and controlled methods for school districts to manage their property tax requests, potentially helping to limit unexpected increases in local property tax rates. The bill amends two existing statutes (79-3403 and 79-3406) and repeals the original versions of those sections.

Budget and Finance

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=59786