Will lawmakers punt on property tax reform?
An article just posted by the Lincoln Journal Star reports on the Revenue Committee’s most recent plan to address the property tax problem in Nebraska.
“The Legislature’s Revenue Committee on Tuesday changed course, tentatively focusing on a proposed $100 million annual increase in the state property tax credit fund during each of the next three years while abandoning substantial tax reform.”
This is not reform, it’s an increase in state spending with no property tax restrictions or changes for local taxing entities. The people of Nebraska have been asking for property tax reform for years. They deserve a more comprehensive plan than to simply increase state spending on an idea that has not fundamentally lowered property taxes.
See more on why the Platte Institute opposes this idea from our testimony on LB303 which proposed to increase the amount of relief under the Property Tax Credit Act.