Though the state faces a likely $900 million deficit over the next two fiscal years, the Nebraska Farm Bureau will continue to push for property tax relief.
Farm Bureau President Steve Nelson insists it’s not as radical an idea as it appears. He says Nebraska could cut property taxes without cutting state revenue, by shifting property tax revenues to the sales tax.
“The measures that we will be pushing for this year all will work in that direction as a way of expanding the sales tax base, offsetting dollar-for-dollar, revenue neutral, to the property tax in an attempt to bring balance to the three-legged stool that you often hear talked about.”
Nelson says the state needs to balance its revenues by relying on one-third from property taxes, one-third from income taxes, and one-third from the sales tax.
Ken Anderson, Brownfield Ag News, contributed to this report.