Why the CARES Act is a different situation than the Tax Cuts and Jobs Act of 2017
Nebraska, like every state, is experiencing economic uncertainty amid the COVID-19 pandemic. The state will need to use caution as it makes revenue and spending decisions throughout this crisis. However, several structural tax changes have already been made at the federal level that will promote a stronger economic recovery in Nebraska. On March 27, 2020, the Coronavirus Aid, Relief,...
Legislature may take a slice out of local pizza shop’s recovery
Seven years ago, there was no Italian restaurant in Scottsbluff. Area diners craving lasagna or chicken parmesan were out of luck unless they wanted to put in the effort in their own kitchens. But then Melissa Schneider, a Scottsbluff native with a background in agricultural marketing, decided to try selling a different product. On a...
Forecasting board proposes confident outlook for Nebraska
Normally the Nebraska Economic Forecasting Advisory Board would not meet in July, but because of the pandemic, the Legislature needed an update to know how to proceed with bills that would impact the budget amid the uncertain times. The last time the forecasting board met was in February and the revenue picture was very positive. This...
Typical Douglas County property valuation hike nears 13%
If you are concerned about property taxes in Douglas County, the latest news isn’t the best. First, we learned that the Douglas County Assessor increased the valuations of existing residential properties by 7%. But the overall increase understates the impact on property owners. According to an Omaha World-Herald analysis of property valuations, a nearly 13%...
Central Nebraskans enthusiastic about consumption tax, but mixed on ballot initiative
Participants in the recent Central Nebraska Virtual Property Tax Town Hall voted in five online polls about a variety of property tax-related questions. As with all of the Virtual Town Halls the Platte Institute is hosting this summer, the polls from these events are only the opinions of participants who made an effort to attend...
Louisville voters reject a property tax increase amid the pandemic
As Nebraska legislators head back to Lincoln and into the last 17 days of their suspended regular session, they should keep in the back of their minds what happened in a Louisville special bond election on July 14. Louisville voters rejected a bond issue that would have allowed the district to build a new elementary...
Nebraska’s June unemployment rate increases to 6.7%
The Nebraska Department of Labor is reporting that the state posted a preliminary unemployment rate of 6.7% in June, a significant uptick from May when Nebraska posted a revised unemployment rate of 5.3%, which was the lowest in the country at the time. The department says the greater volatility in unemployment rates can be attributed...
Nebraska is in a relatively good revenue position compared with other states
Today is the new tax filing deadline in Nebraska. Today is also when the Department of Revenue released the state’s tax revenue figures for the month of June and for the last fiscal year (FY2019-2020). It is important to note that Nebraska’s phase 3 of directed health measures went into effect on June 22. So,...
Voters and taxpayers from Western Nebraska shared their perspectives in the Platte Institute’s first Virtual Property Tax Town Hall. Similar programs are scheduled for other regions of the state through July and August. Throughout the town hall, participants were invited to vote in live online polls for five property tax-related questions. Of course, these are...