Nebraska Gov. Ricketts touts 'major' property tax bill

Posted at 12:26 PM, Feb 06, 2017
and last updated 2017-02-06 13:26:49-05

Nebraska Gov. Pete Ricketts is touting his property tax proposal as a major change to the way agricultural land is valued even though the state's largest farm groups say it doesn't do enough to help them.

Ricketts surrounded himself Monday with farmers and ranchers to draw attention to his measure before a hearing on Wednesday.

The bill would switch the state from a system that relies on land sale prices to value property to one that focuses on how much income it could potentially produce. It's designed to more closely align land values with commodity prices, which have fallen in recent years.

Groups such as the Nebraska Farm Bureau and the Nebraska Farmers Union say the proposal could help but doesn't deliver the reforms sought by rural and urban residents.