Nebraska DOR Provides Information on Property Tax Relief Changes

The Nebraska Department of Revenue (DOR) on Sept. 6 provided information on property tax relief changes resulting from a new credit through the passage of LB 34 (2024). The bill frontloads the credit of 30 percent of school district taxes paid automatically by reducing property tax statements instead of requiring the taxpayer to claim it as a refundable income tax credit. The total amount of the frontloaded relief is $750 million, which will reduce 2024 property tax statements. This credit is set to increase by a minimum of 3 percent each year, and as the state’s economy grows, LB 34 ...