Nebraska property owners will receive property tax relief in 2018.
Property Tax Credit Act
The Property Tax Credit Act provides a real property tax credit based on the credit allocation valuation of each parcel of property compared to the credit allocation valuation of all real property in the state. The credit will be displayed as a reduction in real property tax due on the 2018 tax statements.
The real property tax credit rate is $86.50 per $100,000 of valuation.
The agricultural land tax credit rate is $103.81 per $100,000 of valuation.
The Department of Revenue notice can be viewed on the department’s website at http://www.revenue.nebraska.gov/PAD/news_rel/2018_Real_Property_Tax_Credit_with_attachment.pdf.
News Release, Nebraska Department of Revenue, September 14, 2018