Bill > LB1008

This bill amends the School District Property Tax Relief Act to adjust how the minimum amount of property tax relief is calculated for school districts. Specifically, for tax year 2030, the minimum relief will be the prior year's minimum plus an increase equal to the percentage growth in the total assessed value of all real property in the state, plus an additional $75 million. For tax year 2031 and beyond, the minimum relief will be the prior year's minimum plus the percentage increase in the total assessed value of all real property in the state. The bill also repeals the original section of law that outlined the previous provisions. The School District Property Tax Relief Act provides property tax credits to reduce the amount of property taxes owed to school districts, and these changes aim to modify the overall funding level for this relief program.

Budget and Finance

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=63403