The requested resource (/media/netradio/header/news/header.html) is not available
Last updated 12:45PM ET
April 21, 2021
Nebraska News
Nebraska News
New proposal for tax relief combines property, income tax breaks
(2007-01-29)
(Prairie Public) - A Bismarck Senator has a bill that combines property tax relief with income tax relief.

Under Tracy Potter's (D-Bismarck) proposal, when you get your property tax bill, you would be allowed to take an amount equal to ten percent of that bill, if you have a house, or five percent if you have a farm or business, and apply that against your income tax. Potter says if you don't owe income tax, you would get a voucher to present to the county auditor for a discount on your property tax.

"There was a concern that I heard expressed from members of both parties that the method of delivery of Governor Hoeven's tax relief package lowered property taxes -- even though the state does not assess property taxes," said Potter. "That's a county and local option kind of a thing. Yet, it was property taxes that people are most concerned about. So how could we address that? Simple. Property tax credit on the income tax system -- something that we do control here at the state Legislature."

Potter's proposal will be heard this week in the Senate Finance and Tax Committee.
© Copyright 2021, Prairie Public