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Nebraska lawmakers unveil tentative property tax package | KTIC Radio

Nebraska lawmakers unveil tentative property tax package

Nebraska lawmakers unveil tentative property tax package

Lincoln, Neb. — Nebraska lawmakers have unveiled a new plan to reduce property taxes by boosting state aid for K-12 schools, raising the state sales tax and eliminating tax exemptions.

Members of the Revenue Committee announced the proposal Wednesday but say it’s still subject to change.

The measure would increase state equalization aid to schools from roughly $1 billion to $1.5 billion a year in an effort to reduce the taxes schools generate through local property taxes.

School property taxes would decline by an average of 20 percent.

It also would raise the state sales tax rate from the current 5.5 percent to 6.25 percent and eliminate sales tax exemptions for junk food, bottled water, storage, plumbing and HVAC repairs.

Gov. Pete Ricketts opposes any plan that lowers one tax by raising another.

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