Nebraska Farm Bureau trying to balance tax structure
Nebraska Farm Bureau unveiled a far-reaching, multi-year plan Thursday to shake up Nebraska's tax structure which has come to rely far too heavily on property taxes to fund government services.
The plan outlines a multi-year proposal to not only provide property tax relief to Nebraskans, but to move Nebraska in the direction of a more balanced system of contributions from property, sales and income taxes for funding government services. The plan was shared with members of the Legislature's Tax Modernization Committee during a hearing in Omaha.
"We're thinking big picture. We're not just talking property tax relief, we're talking real tax reform that moves us in the direction of balancing the tax burden among property, sales and income taxes for the long-haul," said Nebraska Farm Bureau President Steve Nelson.
Property taxes account for roughly 45 percent of all of the taxes collected statewide as the reliance on property taxes has steadily increased since the 1990s. Nelson said Farm Bureau members believe the time is right to bring Nebraska's three-legged tax stool back into balance through reforms to roll back the reliance on property taxes.
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