LINCOLN, Neb. – (KGFW) Governor Pete Ricketts discussed what the latest updates have been from the Nebraska legislature as this year’s session draws closer to an end. The most recent being the passing of the state budget.
“The legislature passed the budget which is something they have to do every two years. I’ll be reviewing that budget over the course of this week and will return it to them next week. We’ve made progress with regards to property taxes. In that budget we’ve increased the property tax credit relief fund by $51 million a year. That’s a 23% increase. That brings the total fund up to $275 million.”
Ricketts continued with his passion project of improving property tax relief and how far his relief fund has come.
“$275 million is nearly doubled of what the fund was when I became Governor. What that means is if you have $100,000 of home valuation, you are currently getting about $86 credit from the state, that will go up to $106. If you have ag land it will go up from $103 to $127. This is a significant increase in the direct property tax relief we will be providing.”
The Governor has continued opposing bills that would increase state sales taxes, much like LB 289.
“Right now we’re concerned about what the legislature is doing in regards to raising your taxes. There has been several proposals for raising sales taxes on a variety of different issues which is claimed to be property tax relief. These types of schemes have been tried several times in the past and they always fail. Obviously or we wouldn’t be talking about property taxes. We’re encouraging senators to vote down those increases since they would especially impact working Nebraska families.”
Stick with KGFW throughout the week as more topics are covered with the Governor.