Reliable, Trustworthy Reporting, Capturing The Heartbeat Of Our Community
Reliable, Trustworthy Reporting, Capturing The Heartbeat Of Our Community
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Summer is usually a relaxing time in Lincoln. College students have left, state lawmakers have gone home, the weather gets hot, the backyard tomatoes get ripe, and the biggest debate around town is whether this is the year the Huskers become relevant again in football. Optimism always abounds in the pre-season, before the first kickoff. But not sure the same optimism accompanies the special session Gov. Jim Pillen has convened to address the state's traditionally high property taxes. Every...
Earlier this year, the governor and the Legislature tried and failed to develop a workable plan to reduce Nebraska property taxes through increases in sales taxes. Now, as decision-makers in Lincoln consider coming together in a special session, the options on the table still focus on using sales taxes to pay for cuts in property taxes. Why? Decisions made in the Legislature in 2023 shape what's possible now. In 2023, the Legislature used a historic budget surplus of $1.9 billion to cut income...
This week saw the Legislature in session for only three days to conclude public hearings on more than 600 bills and resolutions introduced this year. It is also at this point in the legislative session when only bills with priority status make the agenda. Every senator is authorized to designate one bill as his or her personal priority bill. Committees are allowed to select two bills, while the speaker of the Legislature can designate up to 25 bills as speaker priority bills. Since committees...
The Nebraska Department of Revenue, Property Assessment Division recently issued a reminder to property owners that the Nebraska Homestead Exemption Application, Form 458, must be filed with the county assessor after Feb. 1, and on or before June 30. The homestead exemption provides relief from property taxes by exempting all or a portion of the taxable value of the residence. The State of Nebraska reimburses counties and other governmental subdivisions for the property taxes lost due to homestead exemptions. In Nebraska, a homestead exemption...
Gov. Pete Ricketts signed a two-year state budget promoting tax relief and controlling state spending, into law, Monday. Budget growth was limited to 1.7% and set at $9.7 billion for the two-year period ending June 30, 2023. The newly-signed budget leaves $206 million available, although that total could change after April 29, when revenue forecasts will be updated. Ricketts said, "The budget I have signed controls state spending and significantly increases direct property tax relief for the peo...
The Appropriations Committee advanced their finalized recommendations for the Fiscal Year 2021-22 and 2022-23 biennial budget to the full Legislature. First-round debate took place this past week and all bills were advanced unanimously except LB383, dealing with capital construction. Under the $9.7 billion biennial budget proposal, the two-year average estimated revenue growth is 3.0%, whereas the two-year average growth in spending is just 1.6%. The committee was able to control the growth of spending due to a higher federal match for...
Governor Pete Ricketts delivered his State of the State address to the Legislature this past week. He highlighted 2021-23 state budget recommendations for senators. This will be his last biennial budget proposal, as his eight years in office will be completed at the end of next year. Ricketts recounted the devastating flood in 2019 and coronavirus pandemic that followed in 2020. He commended Nebraskans for responding in the Nebraska Way - by working together to overcome challenges. The...
The Antelope County commissioners are considering a bond to finance extensive road repairs. “I think a big topic at this meeting will be what we will do with our oil roads, after our discussion last week,” commissioner Dean Smith said during the commissioners’ May 11 meeting at the courthouse in Neligh. He had contacted Tobin Buchanan with First National Capital Markets, who had previously worked with the county, to inquire about bond terms to finance potential major repair costs, “to look at options on how we are going to go forward with th...
The Appropriations Committee presented its recommendations for the budget to the Legislature this past week. Budget bills were also given first-round approval from the Legislature. Over the interim, the financial status of the current biennium has improved significantly. The variance from the minimum General Fund reserve was estimated at only $0.2 million when we adjourned last year, but has since grown to $133.8 million. Furthermore, the rainy day fund increased from $322.4 million to $731...
The Nebraska Department of Revenue, Property Assessment Division reminds property owners that the Nebraska Homestead Exemption Application, Form 458, must be filed with their county assessor between Feb. 3 and June 30. Homestead exemption provides relief from property taxes by exempting all or a portion of the taxable value of the residence. The State of Nebraska reimburses counties and other governmental subdivisions for the property taxes lost due to homestead exemptions. Homestead exemption is available to: • Persons over the age of 65; ...
