Tax Relief

Editorial: Property tax relief: Take pleasure in it whereas it lasts | editorial workers

In fact, it will only be 1.4% less.

Why? Because school property tax credit won’t appear until you’ve paid your 2021 state income tax.

The older credit from the property tax credit fund will appear as a discount on your property tax invoice in December. It has grown a little, but only added a little to the 1.1% drop in gross tax rates due to this year’s local “budget season”.

So most of your tax break will come from the school’s income tax credit. But how likely is it that Nebraskans will notice that? We will see.

“Now think about how much government money it took to get these tax breaks.

This year, the discount for the direct wealth tax loan fund will cost $ 313 million. The school property tax credit on income tax will cost $ 548 million.

The total state budget 36 years ago, 1984-85, was $ 823 million.

Don’t get used to so many tax breaks.

Like Egypt in the Book of Genesis, Nebraska’s agriculture has “fat years” and “lean years”.

When the lean years return and lawmakers have to cut the state budget to balance it, where will they cut it?

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