Platte Institute Provides Testimony on LB 1, Aimed to Lower Property Taxes

OMAHA, NE — Today, the Platte Institute is providing testimony on LB 1, Governor Pillen’s bill aimed to lower property taxes during the Special Legislative Session. Attached is the testimony in its entirety.  
 
Jim Vokal, CEO of the Platte Institute, added some additional context to this testimony, “As Governor Pillen and the legislature ambitiously seek to reform Nebraska’s property tax system the Platte Institute seeks to be a constructive and reasonable partner, helping to achieve the strongest reform possible for our citizens. In that spirit, today, the Platte Institute testified in a neutral capacity on LB 1.”  
 
“Nebraska suffers from the 7th highest property taxes in the nation and that reality is severely hurting Nebraska’s ag producers, small businesses, and families. While the Platte Institute opposes the measures within this bill that violate sound tax and fiscal policy, making Nebraska less competitive, we support the stated goal and are hopeful for long-term reform to be achieved this session. Additionally, there are many components within this bill that we strongly support including measures which impose a property tax cap on cities and counties and deploying the LB 1107 tax credits to directly reduce school property tax levies on a dollar-for-dollar basis,” added Vokal.  
 
The Platte Institute remains dedicated to promoting sustainable and effective tax reform that supports long-term fiscal responsibility and economic growth.