New Bill Looks to Bring Property Tax Relief for Nebraskans
State Sen. Steve Lathrop of Omaha introduced LB 370 to lawmakers in Lincoln on Friday in hopes of bringing some relief to those paying Nebraska's rising property taxes.
"When the Legislature debates tax policy this legislative session, we need to include property tax relief as part of the discussion," Lathrop said. "Legislative Bill 370 would provide much needed property tax relief across the state and I look forward to being involved in the tax debate."
The bill aims to establish two programs that would provide property tax relief for many Nebraskans. Those programs are the County Property Tax Assistance Program and the Municipal Property Tax Assistance Program.
Under the bill, the Legislature would have the choice in the amount of funding the programs would receive. The funding would then be distributed to counties and municipalities based on their populations.
If the recipient accepts the funding they would then be required to lower their property tax collections by that amount.