OMAHA, Neb. (KMTV) — Governor Pete Ricketts announced Tuesday that Elkhorn Senator Lou Ann Linehan will introduce a Constitutional Amendment to limit the future growth of property taxes in Nebraska.
“Structural reform is necessary to give taxpayers relief and certainty," Linehan said. "The Revenue Committee will be doing important work on property tax relief this session. The measure, which if passed, would need a vote of the people."
During his annual State of the State of the address, Ricketts spoke about his recommendations for the budget between the fiscal years between 2019 and 2021. He says his goals are to cut property taxes and bring structural property tax reform.
Ricketts' campaign says the budget delivers an additional $51 million each year in property tax relief to all property owners.Ricketts is also proposing to establish a three percent cap on property taxes levied by local governments.
OpenSky Policy Institute Executive Director Renee Fry released a statement about the tax ideas discussed by the governor.
“A slight increase in the property tax credit program is not real property tax reform and property tax caps tend to have unintended consequences, which is why many tax policy experts from across the political spectrum are not in favor of them," Fry said. "We hope there will be more comprehensive approaches to property tax reform put forth by lawmakers this session.”
