Bill would reduce ag land property tax rate
by: Nebraska News Service - May. 3, 2021
State News
Property tax continues to be a heated topic in the Nebraska Legislature. Senators took nearly the entire day on April 21 to debate and vote on LB 2, which would reduce the amount of taxes agriculture landowners pay to school district bonds.
Currently, ag landowners pay property tax on 75% of their land value to area school districts. Nebraska school districts levy local property tax to pay off bonds they’ve acquired for new buildings and, sometimes, other big-ticket projects.
If the bill passes, the property tax rate ag that landowners pay would decline to 50% of their land value for the purpose of school district bond payment only.