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Sen. Spivey proposes income‑based circuit breaker for property-tax and rent relief
Summary
LB 439 would create a refundable tax credit that reimburses a portion of property tax or rent for households whose housing costs exceed a defined share of their income; proponents said the design targets the most burdened households, while critics and fiscal analysts urged caution on fiscal impact and administration.
Senator Ashley Spivey told the Revenue Committee she introduced LB 439 to target property‑tax and rent relief to Nebraskans most burdened by housing costs. The bill would create a refundable income‑tax credit that reimburses 50% of the tax or rent exceeding 5% of a taxpayer’s federal adjusted gross income, with annual caps of $4,000 for most claimants and $5,000 for taxpayers age 65 or older.
Design and intent LB 439 would allow qualifying taxpayers to claim the credit for primary residences and places where renters pay rent; homeowners would be limited to property taxes paid on the taxable value of a primary residence up to 200% of the county average assessed value for single‑family residential…
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