The Nebraska Farm Bureau says state tax policy is its top priority this legislative session.
President Mark McHargue tells Brownfield the entire tax structure needs rewriting because farmers and ranchers pay the largest percentage of property taxes. “Whether we should do that through the consumption tax or the EPIC tax as described or overhauling it a different way.”
He says there has been relief through the Property Tax Incentive Act. It grew from $115 million in 2022 to nearly $550 million this year and that allows producers to receive an income tax credit based on property taxes paid to their local school district.
