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Nebraska Tax Study Will Look at Income and Property Taxes

NE Legislature(AP) — Lawmakers studying the state tax system will hear from property- and income-tax experts before they start traveling Nebraska for public input.

The Legislature’s Tax Modernization Committee will convene a work session on Tuesday. The panel is looking to create tax policy that’s fair, simple and stable, while helping Nebraska compete with other states. It will also explore how to keep the system adequate to pay for state services.

Georgia State University economists David Sjoquist and Sally Wallace say Nebraska’s personal and corporate income taxes are similar to those in other nearby states.

Renee Fry of the Lincoln-based OpenSky Policy Institute says lawmakers should consider increases to K-12 education funding, which could help local school districts lower their property tax rates.

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