Syracuse Journal-Democrat
Governor Pete Ricketts hosted a Feb. 17 press briefing at the State Capitol to highlight a new property tax credit that eligible Nebraskans can claim when filing their state income taxes. In August 2020, the Governor signed LB 1107 into law to create the refundable property tax credit. The credit is based on the amount of a taxpayer’s property taxes paid to schools. The credit will provide up to $125 million in property tax relief to Nebraskans in the 2020 tax year and will deliver $375 million of annual relief when fully phased in.
Nebraska Department of Revenue (NDOR) Tax Commissioner Tony Fulton and NDOR Property Tax Administrator Ruth Sorensen joined the Governor to explain how Nebraskans can claim the credit when preparing their 2020 state income taxes.