Property Tax Alert: Nebraska

June 2005

Effective May 6, 2005, for Nebraska property tax purposes, the levy authority for community colleges is amended. The current applicable levy rate limitation is seven cents per $100 valuation. Under the law as amended, any community college whose valuation per reported aid equivalent student was less than 82% of the average valuation per statewide reimbursable reported aid equivalent total for all community colleges for fiscal year 1997-98 may levy up to an additional one-half cent for fiscal years 2005-06 and 2006-07.

Please contact Rash & Associates for more information.