Property tax bills introduced in legislature

This past week, the Legislature gave first-round approval to two bills offering tax relief for Nebraskans. Further debate on the two proposals will wait until we are further along in the session and have a better idea of projected revenues and expenses.

LB825 accelerates the phase-out of the taxation of social security benefits. Under the proposal, all social security benefits will no longer be subject to the income tax, beginning in 2025.

LB723 guarantees a higher level of property tax relief for taxpayers. When senators passed the Property Tax Incentive Act two years ago, it called for a sig...