Nebraska state senators spent most of their session Wednesday debating LB-974, the legislatures’ main property tax proposal this year.
The bill by Senator Lou Ann Linehan of Elkhorn would change the state’s school property tax valuations to 95, 90, and 85 per cent of actual value over the next three years, and hold at 85% each following year.
District 17 Senator Joni Albrecht supports the proposal:
OC………do understand. :21
South Sioux City Superintendent Todd Strom is one of those administrators who says school districts will lose funding through the proposal:
OC…………rich districts do. :18
Agricultural land tax rates would be lowered from 75 to 65% and then 55% for school districts, but hold at 75% for other political subdivision tax levies.
Senator Albrecht says the school administrators opposing the bill should not worry about the measure and that lawmakers will make sure the school districts have the funding they need.
The bill limits school district spending increases to the growth in the consumer price index and population levels.
Strom says the South Sioux City School district is projected to lose over $1.7 million dollars under the new bill in the first three years:
OC……….quite a gap there. ;25
Ponca could lose $363,000, Winnebago $200,000 and Homer over $112,000.
But Senator Albrecht says each school district will receive $2300 per student by year three:
OC…………..tax bill each year. :18
Strom says most school officials he has talked to oppose the measure, and that he also owns a family farm and understands the need for property tax relief:
OC…………as it’s written. :20
The senate ended debate Wednesday without taking a vote on the measure.