Governor Pete Ricketts considering revisiting income potential assessment system
LINCOLN - This past legislative session Governor Pete Ricketts introduced an income potential assessment system that ended up stalling in the legislature.
Ricketts says he wants to revisit it again as it would slow the growth of Ag-land valuation increases, help out smaller school districts, and provide income tax relief.
He says out of Nebraska’s 244 school districts, only 70 of them get equalization money from the state.
“All school districts get something whether it be special education dollars, but I’m talking about the equalization money that comes in the school aid formula. It’s down to 70 school districts and it’s primarily urban districts like South Sioux City, Hastings, Lincoln, and Omaha. An income potential assessment would actually add 40 school districts on to that.”
Ricketts says the assessment for Ag land is currently being used successfully in North Dakota, South Dakota, Kansas, Iowa, Wisconsin, Illinois, Indiana, and Ohio.