Governor Pete Ricketts’ income and property tax plan is getting mixed reviews. It is getting praise from the Nebraska business community, but farm groups say it does not do enough to address concerns about rising property taxes.
Farm groups support the proposal to change how agricultural land is valued, but say that more should be offered to landowners. Business groups note that state governments can only directly control sales and income tax rates. Local governments impose property taxes. The property tax plan would go from relying on sale prices to one that focuses on potential income that a parcel could earn.
