Tax & Accounting Blog

2016 Nebraska Property Tax Credit

Blog, ONESOURCE, ONESOURCE Property Tax October 10, 2016

According to a New Release from the Nebraska Department of Revenue on September 9, 2016, the state is providing property owners tax relief for property taxes levied in 2016 totaling a statewide distribution of $204 million. The Property Tax Credit Act provides a property tax credit based on the valuation of each parcel of real property compared to the valuation of all real property in the state. The amount determined for 2016 is $89.57 per $100,000 of valuation. The real property tax credit will be shown on tax statements as a credit after the full taxes are levied.

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