|Lincoln, Neb. – As the Nebraska Legislature begins general debate on a number of proposals, Reform for Nebraska’s Future (RNF) is specifically watching two proposals closely, both of which fall far short of providing the comprehensive property tax reform many politicians have promised.
“These proposals miss the mark to make Nebraska’s tax system more equitable and should be rejected by Nebraska’s senators,” said Mark Fahleson, Chairman of RNF. “With property taxes accounting for nearly 50 percent of all state and local revenues, these proposals currently do nothing to make Nebraska’s tax system more balanced and equitable, which would reduce the burden on home and property taxpayers. You don’t reduce property taxes by raiding the Property Tax Credit Fund or through income tax cuts.”
In anticipation of deliberation on both LB461, introduced by Senator Jim Smith, and LB640, introduced by Senator Mike Groene, this week RNF released an updated Legislative Report Card to highlight our opposition to both proposals as they are currently drafted. RNF has previously identified a number of proposals that were introduced, which could be steps in the right direction towards creating property tax reform that is revenue neutral and balanced.
“The debate comes down to priorities and the question is will senators choose to deliver for their constituents or the special interests,” added Fahleson. “Nebraskans overwhelmingly want property tax reform passed during the current legislative session and RNF encourages senators to deliver for their constituents.”
According to the Report Card: