State of Nebraska tells amount of property tax gift for homeowners
This year the owner of the average Lincoln home ($184,800) will get $159.85 in tax relief in the form of a state property tax credit.
The state recently announced the annual gift to property taxpayers. The credit is funded by state sales and income tax dollars and approved by the Legislature and governor.
Last year the state tax credit paid about 4.3 percent of a $3,700 property tax bill on an average Lincoln home. The percentage is likely to be slightly lower this year.
That credit, which is $86.50 per $100,000 valuation for nonagricultural property this year, will be listed on property tax bills.
The credit is lower than last year’s credit, which was $87.95 per $100,000 of taxable valuation.
For the second year, the state split the property tax credit, giving agricultural land across the state a higher tax credit than residential and commercial property.
For ag land, the tax credit rate will be $103.81 per $100,000 of taxable valuation.