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Tax Relief in Nebraska

Nebraska MapIn Nebraska, a number of taxes affect residents overall tax burden. The state levies a personal income tax with a top rate of 6.84%, 15th highest among those state that collect an individual income tax. This tax, in combination with other local taxes, results in an average of $938 per person annually, 21st highest nationwide.

With respect to property tax, Nebraskans pay an average of $1,566 per person, which ranks the state 14th highest in the United States. However, the state is 18th lowest when looking at individual federal income taxes; its average of $9,200 is lower than the national average by more than $2,000.

While Nebraskans have a median household income of $53,774, slightly higher than the national average of $51,939, the state has not been immune to the financial challenges that have affected the United States in recent years. Nebraska has experienced a decline of more than 6.5% in the average household income, and this decline has caused residents of the state to seek out tax relief as one approach to increasing financial struggles.

Tax debts can mount as individuals use their limited financial resources to meet their most pressing needs: sending in the mortgage payment, paying the electric bill, putting food on the table, or taking a sick family member to the doctor. When people have little-to-no money left at the end of the month, they rarely think to set aside any savings for the April 15th tax bill and wind up with significant amounts of tax debt.

Tax debt is an area where Nebraskans face difficulties, with the stress of owing state and federal tax authorities and the possibility of garnished wages and seized assets. Tax relief companies work with clients to find solutions to serious tax problems, and in some cases can even reduce clients? overall tax debt. Experts in tax relief make use of a number of strategies to help clients; some of those tools are traditional or streamlined installment agreements with the IRS, penalty abatement, and audit reconsideration.

 

State of Nebraska tells amount of property tax gift for homeowners

This year the owner of the average Lincoln home ($184,800) will get $159.85 in tax relief in the form of a state property tax credit. The state recently announced the annual gift to property ...

Published:  Thu, 20 Sep 2018 12:00:00 GMT



Spending debate must consider tax incentives

Harms is a member of the OpenSky Policy Institute Board of Directors. Cutting state spending to reduce taxes is a common refrain in Nebraska. It was a goal of mine when I ran for the Legislature in 20...

Published:  Thu, 20 Sep 2018 09:41:00 GMT



ERDMAN: Nebraska needs property tax relief

Nebraskans desperately need property tax relief. Over the past ten years property valuations on agricultural land have increased 252 percent statewide and taxes have increased 162 percent. Meanwhile, ...

Published:  Sat, 15 Sep 2018 23:00:00 GMT



Nebraska property owners won't save as much on taxes this year

LINCOLN - Nebraska property owners will save a little less on property taxes this year as the state's Property Tax Credit Fund has to stretch a little more. State revenue officials announced Friday th...

Published:  Fri, 14 Sep 2018 18:55:00 GMT



Rural And Republican Sedgwick County Is Considering A Sales Tax In November

One of the biggest sales tax contributors in Sedgwick county is a thriving retail marijuana shop a few miles off Interstate 76. Sedgwick Alternative Relief is the first retail shop you can get to comi...

Published:  Thu, 20 Sep 2018 03:38:00 GMT



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