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Ricketts announces property tax relief proposal

Nebraska Governor Pete Ricketts has announced a property tax relief package for the 2016 legislative session.

Ricketts says the proposal addresses the sharp rise in agricultural land valuations.

“The proposal you’ll see here is to limit that overall growth—the aggregate growth across the state—to three percent per year,” Ricketts says. “That will help address some of the pressure that we see from our farmers and ranchers, who are particularly hit by the run-up in ag land valuations and the property taxes that go along with those—and, certainly, that’s a concern from the standpoint of the state as well, as agriculture is our number one industry.”

Ricketts says the plan also provides tools to help local governmental entities control spending.

“What you’ll see is something that puts a little bit tighter controls on local spending. You’ll see tightening of levy lids by taking out some of the exemptions that before didn’t have to be voted on by the people of that entity. And you’ll see controls in school aid spending,” Ricketts says.

Ricketts worked with Revenue Committee chairman Mike Gloor and Education Committee chairwoman Kate Sullivan to develop the package. Both senators joined Ricketts for his announcement on Tuesday.

AUDIO: Excerpts from Ricketts’ news conference, courtesy NET