Bill Would Put $50 Million to Nebraska Property Tax Relief

LINCOLN, Neb. (AP) — A state fund created to reduce local property taxes would get a $50 million boost under a new bill in the Nebraska Legislature.

Sen. Al Davis of Hyannis submitted legislation Thursday that would add $25 million annually to the fund this year and in 2016.

The fund uses state money to reduce what all Nebraska property owners pay in local property taxes. Last year, lawmakers increased the fund to $140 million. With that additional money, a home or property valued at $100,000 gets a tax credit of $74.11.

Lawmakers and Gov. Pete Ricketts have said cutting property taxes is a top priority for this year’s session.