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Nebraska farm bureau champions property tax cut bill

Nebraska farm bureau champions property tax cut bill

By Scout Nelson

The Nebraska Farm Bureau (NEFB) has thrown its full support behind Legislative Bill (LB) 388, a significant move towards reshaping Nebraska's tax landscape.

Mark McHargue, President of NEFB, voiced the organization's approval, stressing the critical nature of LB 388 in providing the property tax relief long demanded by Nebraskans.

This bill is a central component of a more extensive tax reform agenda currently progressing through the Nebraska Legislature.

LB 388 sets out to achieve a more balanced tax structure by increasing reliance on sales tax revenues to offset the towering property tax burden, which has surpassed $5 billion.

The proposal includes strategies like eliminating certain sales tax exemptions and potentially raising the state sales tax rate, contingent on state revenue outcomes. It aims to temper the growth of property tax collections by local entities, ensuring they retain their autonomy.

McHargue emphasized the broader benefits of tax reform, linking the high cost of property taxes not only to the challenges faced by businesses but also to the statewide issue of affordable housing for the workforce.

The Nebraska Farm Bureau envisions LB 388 as a transformative measure that will elevate the economic landscape for both rural and urban communities in Nebraska.

The Nebraska Farm Bureau stands as a steadfast advocate for the state's agricultural community and the general welfare of all Nebraskans.

Representing over 55,000 family memberships, the organization dedicates itself to fostering a prosperous environment through education, services, and legislative advocacy, aiming to propel Nebraska's agricultural economy forward.

Photo Credit -nebraska-farm-bureau

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