LINCOLN, Neb. (AP) — A proposed expansion of Nebraska's homestead exemption program has won first-round approval from lawmakers.
voted 34-0 on Thursday to advance the measure, which would allow more
property owners to qualify for the tax-relief program. The exemption is
given to seniors, disabled veterans and their spouses, and people with
certain disabilities, depending on their home values.
state law allows married couples to receive at least a partial exemption
until their household income reaches $28,501. The bill would increase
that threshold to $46,901.
Sen. Galen Hadley, chairman of the Revenue Committee, says the bill attempts to make it easier for retirees to stay in Nebraska.
lawmakers voiced concerns that the bill would shift residential
property tax burdens onto younger homeowners as baby boomers retire.