Tax Policy

Make Nebraska property taxes honest with Truth in Taxation

Make Nebraska property taxes honest with Truth in Taxation

Want a say in how your property taxes are decided? Participate in a Truth in Taxation hearing. Every year in September, Nebraska's Truth in Taxation law requires cities, counties, school districts, and community college districts to directly notify taxpayers about proposed major property tax increases and hold public hearings where taxpayers can express their views about property taxes in their community. Tune into the latest episode of Nebraskanomics, How Nebraskans Can Control Property Taxes with Truth in Taxation, to learn: Chapters 00:00 Intro 01:38 Why Nebraska created a Truth in Taxation law. 05:55 What the Truth in Taxation process will involve every September. 11:05 How Nebraskans can use Truth in Taxation to keep property taxes in check. Stay tuned until the end, when I'll share how you can receive free Truth in Taxation resources, which will help you stand up for taxpayers in your area. === If you want more economic freedom in Nebraska, please visit PlatteInstitute.org to make a donation to help fund our research and advocacy. ❌It’s time to stop the status quo. Let’s remove economic barriers and make Nebraskans proud.

By Jim Vokal

Closing Nebraska’s property tax honesty gap with Truth in Taxation

Closing Nebraska’s property tax honesty gap with Truth in Taxation

Republished from Nebraska Examiner Recent reports that Omaha Mayor Jean Stothert’s proposed 2023 budget contains no tax increase is a prime example of an honesty gap in how Nebraska leaders discuss local property taxes. In fact, the proposal would increase property tax revenues more than 6%. Even I should accept some blame for the honesty...

By Jim Vokal

Nebraska’s Property Tax Request Act and Truth in Taxation

Nebraska’s Property Tax Request Act and Truth in Taxation

Nebraska’s 2021 Property Tax Request Act added Nebraska to the list of states with a comprehensive Truth in Taxation property tax law. Four types of local taxing jurisdictions–counties, cities, school districts, and community colleges–will comply with the provisions of the new law every September, creating an opportunity for the public to be fully informed about...

By Michael Lucci

Preparing for Truth in Taxation, Nebraska’s Property Tax Transparency Law

Preparing for Truth in Taxation, Nebraska’s Property Tax Transparency Law

Jim Vokal and Laura Ebke discuss how you can help keep Nebraska property taxes in check and learn more about Nebraska’s new Truth in Taxation law at PlatteInstitute.org/Truth. A transcript of this episode is available below. If you’d like to watch this episode on YouTube, press play. Or you can listen to the podcast on...

Jim Vokal & Gary Sadlemyer talk Nebraska’s Truth in Taxation law on KFAB

Jim Vokal & Gary Sadlemyer talk Nebraska’s Truth in Taxation law on KFAB

Jim Vokal joined Gary Sadlemyer on the KFAB Morning News to walk through how Nebraska’s new Truth in Taxation law equips taxpayers with more information about potential property tax increases, and what to do if they’re concerned. You can find more free tips and resources about Truth in Taxation at PlatteInstitute.org/Truth.

September is Truth in Taxation Month in Nebraska

September is Truth in Taxation Month in Nebraska

September is typically when we think of the beginning of fall and settling into the routine of a new school year. However, this year September will take on a new meaning. September is now Truth in Taxation month here in Nebraska. This year, our cities, counties, school boards, and community colleges are required to engage...

By Elizabeth Hallgren

How inflation and taxes impact Nebraska farms and factories

How inflation and taxes impact Nebraska farms and factories

Inflation is the top concern for families heading into midterm elections. Americans largely see federal government actions as hurting their households, and they’re right. As a result of the federal inflationary whirlwind, real wages have fallen 3.6% over the last year. Inflation and supply chain disruptions hurt all household budgets. But they also impact different...

By Michael Lucci

Nebraska businesses face 2023 tax increase unless Legislature acts

Nebraska businesses face 2023 tax increase unless Legislature acts

Nebraska lawmakers enacted tax relief in 2022 in the form of LB873, which cut individual and corporate income taxes, eliminated taxation of Social Security benefits, and expanded a property tax credit program. The lion’s share of the tax relief will go to households in the form of income tax cuts and property tax credits, yet...

By Michael Lucci

Nebraska is losing taxpayers. See where they’re moving.

Nebraska is losing taxpayers. See where they’re moving.

When taxpayers vote with their feet, policymakers should listen. Nebraska endured one of the nation’s largest migration-caused losses of income between 2019 and 2020, according to taxpayer migration data released by the Internal Revenue Service. Nebraska’s net loss of annual income due to outmigration was nearly $500 million. The Wall Street Journal described the new...

By Michael Lucci

Report rewards Nebraska’s peers moving to flat income taxes

Report rewards Nebraska’s peers moving to flat income taxes

Nebraska ranks 36th in economic outlook according to the 2022 Rich States, Poor States report. The annual report ranks states for economic competitiveness using a comprehensive analysis of economic policy factors. While public policies aren’t the only factor for economic growth, they are some of the most controllable factors for states. Nebraska’s current ranking is lackluster,...

By Michael Lucci

Strong revenues give Nebraska fuel for more tax reform

Strong revenues give Nebraska fuel for more tax reform

A gusher of tax revenues poured into Nebraska state coffers in April, creating an unexpected revenue bump for the month when most Nebraskans file their annual tax returns. Revenues were strong across the board, with a surge in personal and corporate income taxes more than covering a slight underperformance in sales tax revenues. Nebraska’s surprisingly...

By Michael Lucci

Nebraska’s 2022 tax cuts: What’s good & what’s not   

Nebraska’s 2022 tax cuts: What’s good & what’s not   

Nebraska entered the 2022 legislative session with its tax code ranked 35th in structural competitiveness, according to Tax Foundation’s 2022 State Business Tax Climate Index. The state will likely improve its position over the coming years as a result of tax changes made in LB873.  However, projections show the state may only edge closer to...

By Michael Lucci

Nebraska continues towards full jobs recovery from pandemic recession

Nebraska continues towards full jobs recovery from pandemic recession

Nebraska gained 400 non-farm payroll jobs in March and its unemployment rate fell from 2.1% to 2.0%, according to new data from the Bureau of Labor Statistics. The low unemployment rate ties Nebraska with Utah as the states with the lowest jobless rates. In addition, Nebraska’s strong February jobs gain was revised slightly upwards, thus...

By Michael Lucci

Get the facts about Nebraska’s high tax burden 

Get the facts about Nebraska’s high tax burden 

Two factors determine a state’s overall tax competitiveness. The first factor is the total tax burden, measured as a portion of state income. The second factor is the structure of the state’s tax code – the manner in which those revenues are collected. The goal for tax competitiveness in Nebraska, then, is to maintain a...

By Michael Lucci