Gov. Ricketts Highlights Record-Setting $2 Billion in Property Tax Relief & Aid from the State to Local Governments
Taylor Gage, 402-471-1970
Eric Maher, 402-471-1974
LINCOLN – Today, Governor Pete Ricketts issued a statement following a new report from the Nebraska Department of Revenue showing that the State of Nebraska provided $2.045 billion in property tax relief and aid to local government agencies over the last year.
“For the first time ever, Nebraska is delivering over $2 billion in property tax relief and aid to local governments,” said Governor Ricketts. “This aid comes from state dollars and provides relief from the property taxes levied by local government. Property tax relief has been a top priority in each of my budgets, and it will be my top priority in the upcoming budget.”
QUICK FACTS ABOUT PROPERTY TAX RELIEF & AID TO LOCAL GOVERNMENTS
- In the last five years, aid to local governments has grown from $1,692,725,473 in 2013-14 to $2,045,921,331 in 2017-18.
- In the most recent budget approved by Governor Ricketts and the Legislature, state aid to K-12 schools grew four times faster than the overall state budget.
- In the last four years, the Governor and Legislature have successfully worked together to increase the property tax credit relief by 60 percent.
Local government includes school districts, cities, counties, and other units of local government. Aid from the state budget to local governments is funded by state income and sales tax revenues and other miscellaneous revenue sources. Collectively the aid helps provide property tax relief and eases the burden on local government budgets.
A detailed report can be found by clicking here.