How the state legislature can address Nebraska’s rising home values
How the state legislature can address Nebraska’s rising home values
Nebraska policymakers are being called upon to address a problem that afflicts nearly every state across the country. Rapidly rising property values are stressing homeowners, particularly when property taxes rise proportionate to property values. As a result, homeowners are turning to public officials for solutions. It is fair to say that this problem exists in...
By Michael Lucci
Next steps for Nebraska after nation’s best tax reform
Next steps for Nebraska after nation’s best tax reform
Nebraska led the states with the nation’s best tax reform in 2023, overhauling its income tax and property tax in one fell swoop. Nebraska’s individual and business income tax will both fall to 3.99% in coming years, boosting the state’s competitiveness in the nation’s most tax-competitive region. Nebraska’s fiscal accomplishments in 2023 will naturally leave...
By Michael Lucci
Setting the facts straight on Nebraska’s opportunity scholarships
Setting the facts straight on Nebraska’s opportunity scholarships
Nebraska’s Opportunity Scholarships Act program, enacted in LB 753, creates a pathway for Nebraska students to learn and thrive in the education environment that suits them best. The program provides $25 million per year for roughly 5,000 students to enroll in a private school rather than a public school. Nebraska’s school choice program is funded...
By Michael Lucci
Southeast Community College Board votes to raise property taxes by 40%
Southeast Community College Board votes to raise property taxes by 40%
Property owners in southeast Nebraska should brace for sticker shock ahead of next year’s property tax bills. The Board of Governors for the Southeast Community College system (SCC) voted on Tuesday to raise property taxes by roughly 40% across the 15-county service area, according to coverage by the Lincoln Journal Star. Tuesday’s preliminary approval will...
By Michael Lucci
Platte Institute Nominated for State Policy Network Bob Williams Award
Platte Institute Nominated for State Policy Network Bob Williams Award
The Platte Institute is honored to be nominated for a State Policy Network Bob Williams Award: Biggest State Win. As a part of our nomination for this award, we outlined three historic victories: Nebraska Income Tax Reform: LB754 is a tour de force of income tax reforms. The individual and corporate income taxes are...
By Jim Vokal
Property Tax Paradox: How Nebraska’s Increased Valuations Impact You
Property Tax Paradox: How Nebraska’s Increased Valuations Impact You
Many Nebraskans (this writer included) took big gulps when they opened their property valuation notices this past week. In Crete, our valuations went up 23%. While we can understand the increase in valuations because property sales have risen, and property valuations are based on market value, these increased values also have the possibility to significantly...
By Laura Ebke
U.S. Supreme Court Strikes a Blow for the Little Guy
U.S. Supreme Court Strikes a Blow for the Little Guy
Back in January, we told the story of Geraldine Tyler’s challenge of Hennepin County, Minnesota’s taking of her property to collect back property taxes, and her loss of any equity interest remaining. While no one denies that the government can seize property to collect back taxes and fines, the question is really about how much...
By Laura Ebke
States should compete within America’s highly progressive tax and redistribution system
States should compete within America’s highly progressive tax and redistribution system
State and local governments are on the front lines of providing core government services. They are also on the front lines of competing for jobs and economic growth. Therefore, state fiscal policy should produce revenue for core government services by applying low, competitive tax rates to a broad tax base with limited exemptions. That is...
By Michael Lucci
Nebraskanomics: Jonathan Williams on how Nebraska ranks
Nebraskanomics: Jonathan Williams on how Nebraska ranks
On this episode of Nebraskanomics Platte Institute CEO Jim Vokal welcomes Jonathan Williams, Chief Economist and EVP for the American Legislative Exchange Council. During the episode the two dive into the significance of state tax policies and their impact on economic competitiveness. Jonathan also shares valuable insights from the Rich State’s Poor State’s report, a...
New Iowa law provides model for Nebraska to reform local bond elections
New Iowa law provides model for Nebraska to reform local bond elections
Two school bond elections in Omaha-area schools succeeded by a 2-1 margin on May 9, authorizing more than $120 million in new debt and taxes for the school districts. The bond proceeds are committed to infrastructure and construction costs for the districts. This result wasn’t unusual for a local school bond election, and is matched...
By Michael Lucci
Nebraska property tax relief in LB 243
Nebraska property tax relief in LB 243
Nebraska lawmakers have laid out an ambitious goal of achieving historic income tax and property tax relief in 2023. Income tax reforms in LB 754 would accomplish Nebraska’s most significant tax improvements in generations. In addition, lawmakers are advancing property tax relief in LB 243, sponsored by Senator Tom Briese, an amendment to which incorporates...
By Michael Lucci
Nebraska’s Licensing Challenges Continue
Nebraska’s Licensing Challenges Continue
As the glow of Nebraska’s annual Spring Game leads to dreams of hearing “We’re Number 1” at Memorial Stadium, there is one area of policy where Nebraska is “number one” in our conference/region—but being number one is not a good thing. The Archbridge Institute recently released its first State Occupational Licensing Index, and Nebraska’s position...
By Laura Ebke
LB 754 fiscal and economic impact
LB 754 fiscal and economic impact
Nebraska has a once-in-a-generation opportunity to overhaul its tax code in 2023. A successful tax reform will pay dividends for generations. Nebraska has large revenue surpluses, and the best thing to do with the surplus revenue stream is to return most of it to the productive private economy through thoughtful and sustainable tax reform. This...
By Michael Lucci