Nebraska Farm Bureau President Steve Nelson and Michael Kelsey of Nebraska Cattlemen joined Gov. Dave Heineman recently in calling for repeal of the Nebraska Inheritance Tax. “Nebraska is one of only eight states that has an inheritance tax and we need to change that,” Heineman said.
Repeal of the county inheritance tax is but one proposal in front of the Legislature asking for tax relief. Proposals have also been introduced to reduce property taxes on homes and agricultural land, reduce individual and corporate income taxes, reduce the inheritance tax rate, and provide sales tax exemptions.
Jay Rempe, Nebraska Farm Bureau’s vice president of governmental relations, says property tax relief continues to be a priority for Nebraska Farm Bureau. Since 2006, property tax increases statewide on agricultural real estate have increased roughly $244 million, or 54 percent. In the last three years alone, increases in property taxes on agricultural land have exceeded 10 percent each year. Listen more here.
Rempe says Nebraska Farm Bureau policy also supports repeal of Inheritance tax, as well as other measures to repeal the sales tax on agricultural machinery repair parts and exempt biochips used in genetic testing for livestock from the sales tax. Listen more here.
Rempe says Farm Bureau members are encouraged to talk to their state Senator, send them an email or call their office and ask them to support tax relief measures important to agriculture. He says personal examples of the impacts of these tax issues within their own family or someone they know is very helpful. Listen more here.