Nebraska Farm Bureau Backs feature Tax Relief Bills Lincoln subsequently, Neb. The Nebraska Farm Bureau Federation endorsed four bills aimed at lowering property taxes for farmers and ranchers introduced in the 2015 what is session. «The pieces necessary to provide a foundation for meaningful property tax relief have been introduced for consideration in the Legislature and we are very thankful for those who have introduced those bills and of others who have brought ideas to the table, Said Nebraska Farm Bureau director Steve Nelson, January. 20. The Farm Bureau says Nebraska farmers and ranchers account pertaining to three percent of the state’s population but now pay nearly 30 percent of the total property taxes collected statewide, A trend that began in 2008 when taxes collected on agricultural land began to climb at an accelerated rate unlike commercial and residential sectors. During that same time not only did farmers’ and ranchers’ share of property tax obligations grow, The amount of property taxes collected reached unparalleled levels. Nebraska farm and ranch families now pay the third highest property taxes in britain custom dallas cowboys jersey. Only farming land owners in California and Texas pay more in property taxes. «We know several of ideas out there about how to tackle the property tax issue. The invoices we are backing address several issues. Among them is the inequity in the house and property tax system as it relates to Nebraska farm and ranch families. It also reflect the possiblility to provide immediate tax relief, But also start down the path of providing long term property tax reform by limiting property tax growth and starting swimming pool is vital addressing how we fund schools, The main user of property taxes. We believe the amalgamation of approaches in these bills would provide relief to farmers, Ranchers and all Nebraskans seeking asset tax relief, Claimed Nelson. The bills Farm Bureau believes should serve as the basis for tax relief include: LB 178 discussed by Sen. John Watermeier of Syracuse, The bill reduces the degree of taxable value for agricultural land for school taxation purposes. The measure would lower the taxable value from 75 percent of target 55 percent of market over a four year period, Sticking with the same adjustments being made in the calculation of state aid to schools. LB 350 brought by Sen. Lydia Brasch because pointing to Bancrtowardst, The bill would reduce the value of agricultural land from 75 percent of market price to 65 percent of value for taxation purposes custom browns jersey. LB 351 showed by Sen. Lydia Brasch of all Bancrwitht, The bill would send 20 percent of the state taxes collected in a local school district, Back to the district for school funding objectives. Current state law calls for 12 percent of taxes collected locally to be returned to the district. The bill also removes the minimum levy penalty in their state aid to schools formula that penalizes districts for having lower tax levies. LB 364 discussed by Sen. Serta Watermeier of Syracuse, The bill would allocate more $60 million per year for the next two years to the state’s Property Tax Credit Program. The system provides direct relief to all Nebraskans who pay property taxes. «Property taxes are the main issue I hear about from constituents. Putting more dollars into the Property Tax Credit Program will provide immediate and direct relief to the people in my district and individuals statewide. Any additional $60 million dollars for the Property Tax Credit Program would not only reduce the overall collection of property taxes, But provide nearly $50 million in property tax savings for farm and ranch families through the home Tax Credit Program, Understood Sen. John Watermeier. «Lowering the value of agricultural land from 75 percent of value to 65 percent of value for tax purposes brings direct relief to our agriculture families and do so in a uniform manner make your own football jerseys. Besides, The concept of returning a greater percent of income taxes to local schools would ensure all schools receives some type state funding assistance That’s an issue which has been a concern for schools that receive no equalization aid and for tax payers in those districts, Asserted Sen. Lydia Brasch. Nebraska Farm Bureau president Nelson said the manufacturer looks forward to further working with members of the Legislature and the Governor to discuss the merits of the ideas contained in these proposals. «We are confident the Legislature understands the requirement property tax relief and it is imperative we work collectively to make that happen. We believe the core of these bills present a path to move forward to address the house tax issue, Exclaimed Nelson.