LINCOLN – The 2020 Legislative session is underway and, once again, property taxes will be a hot button topic this year. State Senator Steve Halloran of the 33rd district says that the Revenue Committee has been working on increasing the property tax credit relief fund and also lowering property taxes by reducing ag valuations with a three year plan, then lowering residential property taxes after that. Senator Halloran says he personally doesn’t think this is enough.
He has been actively involved in the petition drive to lower property taxes. If it gets on the ballot and passes property tax payers will receive 35 percent of their property taxes back in the form of Nebraska Income Tax Credits. He also thinks the School Aid Formula is in dire need of being overhauled.
There’s a wide disparity in what school districts receive from the state in the form of state aid. The formula, over time, has become a political football. The eastern, more urban areas, they get the preponderance of state aid. There are school districts in the western part of the state, Greater Nebraska, that recieve, frankly, very little state aid. There needs to be some corrected actions with the formula, I believe, that will be part of the equation and we’ll have to deal with it.
Overall he thinks that property taxes will take up much time in this session once again. It is a sixty day session that will last until April.