Because policymakers have failed to find a solution to help ease the burden on property taxpayers! YES to Property Tax Relief is a coalition of Nebraskans working to gather the petition signatures needed to place a $1 billion property tax relief proposal on the November 2018 ballot.
Our proposal would allow taxpayers to qualify for an income tax credit equal to half of most property taxes paid to K-12 education. This credit would reduce the average property tax bill by nearly 30 percent for homeowners, farmers, ranchers, and small businesses.
Figuring your potential tax savings is easy. Use your 2017 property taxes as a way to determine potential future savings.
Review your 2017 property tax statement(s).
If you don't have it, you can obtain a copy by contacting your county treasurer.
Indentify how much you paid in property taxes to your K-12 school in general tax obligation.
*Do not include taxes paid for bonds or overrides.
Take the identified amount and divide by two to determine your refundable income tax credit amount.
That's the amount of income tax savings you'll receive under our initiative if you file income taxes in the state of Nebraska. If the amount of your refundable income tax credit exceeds your state income tax obligations, you'll receive a check from the state of Nebraska for the difference.