Nebraska’s biggest tax relief package in history just needs the governor’s signature. However, there’s already a tax cut on the books that could put more money in the pockets of homeowners they may not know about. That’s almost what happened to Diane Walkowiak and her husband. “We didn’t know until we read about it on Facebook,” Walkowiak said. They claimed the Nebraska Property Tax Incentive Act credit on their Nebraska personal income tax return and receive over $600. “We were a little surprised at the degree of recognition we would have gotten,” Walkowiak said. It is found on line 36 of the Nebraska personal income tax return. It offers homeowners an income tax refund on a portion of the property tax they paid to their local school district. It has been in effect for two years. The first year it was 6%, this year it is more than 25%. But it’s not automatic, you have to apply to get it. “It’s something people really should know about and take advantage of,” Walkowiak said. the Nebraska Department of Revenue claimed about $80 million. It’s about 65% “I understand that participation in this program was a bit light. Not all taxpayers were aware, not all taxpayers applied for it,” the state senator said. Tom Briese. He was the godfather of the law. Briese hopes more publicity and credit education will encourage all homeowners to apply. “The amount of the credit will be approximately four times what it was initially. If the $900 million tax package is enacted, the tax credit will become even larger. The credit will include up to 75% of that that landlords pay to community colleges once it’s fully implemented. I’m telling you now, it’s probably worth getting this,” Briese said the process wasn’t difficult.” Just enter some information and everything will be filled in for you,” Walkowiak said. She hopes people check with their tax preparer to make sure they’re applying for the credit. “My recommendation to other landlords is to definitely check this out. property tax credit,” Walkowiak said. What if you’ve already filed your taxes but haven’t included the tax credit or haven’t claimed the credit the last year? can file an amended statement of status.
Nebraska’s largest tax relief package in history needs only the governor’s signature.
However, there is already a tax cut on the books that could put more money in homeowners’ pockets that they may not be aware of. That’s almost what happened to Diane Walkowiak and her husband.
“We didn’t know until we read about it on Facebook,” Walkowiak said.
They claimed the Nebraska Property Tax Incentive Act credit on their Nebraska personal income tax return and receive over $600.
“We were a little surprised at the degree of recognition we would have gotten,” Walkowiak said.
It’s on line 36 of the Nebraska personal income tax return.
It offers homeowners an income tax refund on a portion of the property tax they paid to their local school district. It has been in effect for two years.
The first year it was 6%, this year it is more than 25%. But it’s not automatic, you have to apply to get it.
“It’s something people really should know about and take advantage of,” Walkowiak said.
Not everyone did.
Last year, $125 million was set aside for credits, but according to the Nebraska Department of Revenue, about $80 million has been claimed. It’s about 65%.
“I understand that participation in this program was a little light. Not all taxpayers knew about it, not all taxpayers applied for it,” State Sen. Tom Briese said.
He was the godfather of the law.
Briese hopes more publicity and credit education will encourage all homeowners to apply.
“The amount of credit is going to be about four times what it was initially. And so people have to be aware of that. They have to take advantage of that,” Briese said.
If the $900 million tax package is enacted, the tax credit will become even larger.
The credit will include up to 75% of what homeowners pay to community colleges once it is fully implemented.
“I’m telling you now that it’s probably worth getting this,” Briese said.
The Nebraska Department of Revenue has a property tax credit search tool on its website along with a number of tips and an instructional video.
Walkowiak said the process was not difficult
“Just type in some information and it fills everything in for you,” Walkowiak said.
She hopes people will check with their tax preparer to make sure they’re claiming the credit.
“My recommendation to other homeowners is to definitely check out this property tax credit,” Walkowiak said.
So what if you already filed your taxes but didn’t include the tax credit or didn’t claim the credit last year?
You can file an amended statement of status.
