Correcting LB 34
Nebraskans will not be able to claim their 2023 property tax credit when they file their 2024 income tax return next year. After the State Legislature passed LB 1107 back in 2020, Nebraskans became eligible to claim a refundable tax credit on their income tax return for the taxes they paid to their local school districts. For the year 2023 that refundable tax credit was supposed to be worth 30 percent of the taxes paid to local schools. However, that credit was lost when the State Legislature passed its property tax relief bill during the special session.
In the haste of wanting to give Nebraskans some much needed property tax relief, Nebraska State Senators inadvertently nullified the opportunity for many Nebraskans to collect their 2023 property tax credit when they file their 2024 income tax returns next year.The error occurred when the Legislature passed LB 34 during the special session of the Legislature in August of this year.
