Thousands of Older Nebraskans Eligible for Immediate Property Tax Relief
(LINCOLN, Neb.) - Fortunately for thousands of older Nebraskans, immediate property tax relief is on the way. The Nebraska Legislature approved a measure this year broadening the income eligibility for the homestead exemption.
LB 986 is estimated to extend property tax relief to an additional 20,000 homeowners age 65 and over and increases the amount of relief for an additional 10,000 people. The bill is expected to bring $4.6 million in homestead exemptions to older Nebraskans.
"Property taxes are considered by many retirees in Nebraska to be the most burdensome tax," said Bob Eppler, state president of AARP Nebraska. "Over the years, AARP has successfully pushed for changes in the homestead exemption to provide more help to seniors on fixed incomes. Passage of LB 986 was one of AARP Nebraska's most important legislative priorities this year."
Single homeowners with a household income up to $39,500 and married homeowners with income up to $46,900 now qualify for at least a partial homestead exemption.
Since medical expenses can be deducted from household income, many Nebraska seniors with significant healthcare costs will qualify at even higher total incomes.
"With this change, AARP encourages taxpayers who are single with incomes up to $50,000 and married couples with incomes up to $60,000 to take a serious look at the homestead exemption," Eppler said.
The change in law applies to homestead exemptions filed this year and in future years. The deadline to file is June 30. For more information and application forms, contact your county assessor's office or visit http://www.revenue.nebraska.gov/PAD/homestead.html. If people have already filed this year, they don't need to file a new application.
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Serving nearly 200,000 members in Nebraska, AARP is a nonprofit, nonpartisan membership organization that helps people 50+ have independence, choice and control in ways that are beneficial and affordable to them and society as a whole. Follow us on Twitter @AARPNE, find AARP Nebraska on Facebook or visit us at www.aarp.org/ne.