$1.1 BILLION PROPERTY TAX REDUCTION PETITION ON ITS WAY

A broad coalition of Nebraskans has decided to launch an initiative petition campaign to seek a vote of the people on a proposal that would provide an estimated $1.1 billion in annual property tax relief, Sen. Steve Erdman of Bayard said Tuesday. The proposal is aimed at effectively reducing the local school property tax load by up to 50 percent, Erdman said in a telephone interview. Erdman said property taxpayers could access that tax reduction through a refund or credit that he suggested might be funded by elimination of some exemptions to the state sales tax. Petitions seeking a vote of the people on the proposed statute would require roughly 85,000 signatures and would need to be submitted to the secretary of state by next July, Erdman said.