Governor Pete Ricketts says Senator Steve Erdman’s property tax relief proposal is only “a fantasy” if it doesn’t provide a means to pay for it.
Erdman’s proposal would provide tax credits of up to 50% to property owners for the dollars they provide K-12 education. Ricketts told KNEB News says finding a method to pay for those $1.2 billion in tax credits is where the idea falls short.
Erdman has suggested “real” budget cuts or elimination of sales tax exemptions could pay for the tax credits. Ricketts says eliminating sales tax exemptions is simply a “tax shift”.
Ricketts says he will try to get more lawmakers behind his proposed income and property tax relief measure that also includes assessing ag land on its ability to provide income to farmers and ranchers.