For the purpose of providing property tax relief, Legislative Bill 34 of Nebraska, which is currently in the process of advancing to its final debate, aims to provide relief in the amount of $185 million in new funds, a revamped amount of $565 million in existing relief, and caps on tax increases. Additionally, the bill seeks to stay away from new sales taxes and to give local governments some leeway through override options.
This is because some lawmakers wanted higher caps to give local governments more freedom. There are technical fixes in the final bill that let local governments ask for exemptions from the tax caps during certain election times.
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