Tax & Accounting Blog

Nebraska 2013 Real Property Tax Credit

Blog, ONESOURCE, ONESOURCE Property Tax September 25, 2013

In a September news release, the State of Nebraska explained how they will offset a portion of real property taxes levied in 2013 through the Nebraska Property Tax Credit Act.

The act provides a real property tax credit based upon the valuation of each parcel of real property compared to the valuation of all real property in the state.

For 2013 the credit is $65.97 per $100,000 of valuation. The credit is not a reduction in the levy or the tax rate, but will be reflected as a reduction in tax due on 2013 property tax statements. ( Real Property Tax Credit for Tax Year 2013, Nebraska Property Assessment Division, 09/13/2013 .)