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NE LB152

Bill

Official Source

Status

Introduced

1/13/2025

Primary Sponsor

John Cavanaugh

Click for details

Origin

Legislature

109th Legislature

AI Summary

  • Exempts the first $100,000 of actual value from property taxation for all homesteads in Nebraska, effective January 1, 2026
  • Creates a new universal homestead exemption that applies to all owner-occupied primary residences regardless of age, income, disability, or veteran status
  • Preserves existing homestead exemptions for veterans, disabled individuals, elderly residents, and low-income homeowners under sections 77-3506, 77-3507, and 77-3508, which will be applied in addition to the new $100,000 exemption
  • Requires the state to reimburse counties for tax revenue lost due to the exemption, with county treasurers certifying lost revenue to the Tax Commissioner by November 30 each year
  • Amends multiple sections of Nebraska tax law (77-3501 through 77-3529 and related provisions) to incorporate the new exemption into existing homestead exemption administrative procedures

Legislative Description

Create a homestead exemption

Last Action

Title printed. Carryover bill

1/7/2026

Committee Referrals

Revenue1/15/2025

Full Bill Text

No bill text available