Platte Insitute
OMAHA, NE — Today, the Platte Institute addresses LB 388, a measure proposed to alleviate property tax pressures in Nebraska. Despite its intention to provide relief, the Institute had raised concerns about its long-term fiscal implications and its approach to funding.
Jim Vokal, CEO of the Platte Institute, stated, "Solving the property tax problem is difficult but with the 7th highest rates in the country, we need to continue our efforts. These solutions, however, must not raise other tax rates, tamper with previous income tax reforms, or involve taxing business inputs. Further, the focus of property tax reform should center on reform solutions that control and limit spending at the local level rather than a shift of state funds.”
Vokal added, "While the Platte Institute had concerns about LB388, we remain steadfast in our push for lower property taxes in Nebraska and stand ready to work with policymakers moving forward.”
The Platte Institute remains dedicated to promoting a balanced, forward-looking fiscal policy framework that supports economic growth and fiscal responsibility. We will continue to engage with stakeholders and policymakers to explore sustainable property tax solutions that align with the principles of economic freedom and fairness.