LB73 LB73
2024 2024
LEGISLATURE OF NEBRASKA
ONE HUNDRED EIGHTH LEGISLATURE
FIRST SPECIAL SESSION
LEGISLATIVE BILL 73
Introduced by McDonnell, 5.
Read first time July 29, 2024
Committee: Revenue
1 A BILL FOR AN ACT relating to homestead exemptions; to amend section
2 77-3507, Reissue Revised Statutes of Nebraska; to change provisions
3 relating to income eligibility amounts; and to repeal the original
4 section.
5 Be it enacted by the people of the State of Nebraska,
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1 Section 1. Section 77-3507, Reissue Revised Statutes of Nebraska, is
2 amended to read:
3 77-3507 (1) All homesteads in this state shall be assessed for
4 taxation the same as other property, except that there shall be exempt
5 from taxation on homesteads of qualified claimants a percentage of the
6 exempt amount as limited by section 77-3506.03. The percentage of the
7 exempt amount shall be determined based on the household income of a
8 claimant pursuant to subsections (2) through (4) of this section.
9 (2) For 2014, for a qualified married or closely related claimant,
10 the percentage of the exempt amount for which the claimant shall be
11 eligible shall be the percentage in Column B which corresponds with the
12 claimant's household income in Column A in the table found in this
13 subsection.
14 Column A Column B
15 Household Income Percentage
16 In Dollars Of Relief
17 0 through 31,600 100
18 31,601 through 33,300 90
19 33,301 through 35,000 80
20 35,001 through 36,700 70
21 36,701 through 38,400 60
22 38,401 through 40,100 50
23 40,101 through 41,800 40
24 41,801 through 43,500 30
25 43,501 through 45,200 20
26 45,201 through 46,900 10
27 46,901 and over 0
28 (3) For 2014, for a qualified single claimant, the percentage of the
29 exempt amount for which the claimant shall be eligible shall be the
30 percentage in Column B which corresponds with the claimant's household
31 income in Column A in the table found in this subsection.
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1 Column A Column B
2 Household Income Percentage
3 In Dollars Of Relief
4 0 through 26,900 100
5 26,901 through 28,300 90
6 28,301 through 29,700 80
7 29,701 through 31,100 70
8 31,101 through 32,500 60
9 32,501 through 33,900 50
10 33,901 through 35,300 40
11 35,301 through 36,700 30
12 36,701 through 38,100 20
13 38,101 through 39,500 10
14 39,501 and over 0
15 (4)(a)(i)(A) (4) For exemption applications filed in calendar years
16 2015 through 2017, the income eligibility amounts in subsections (2) and
17 (3) of this section shall be adjusted by the percentage determined
18 pursuant to the provisions of section 1(f) of the Internal Revenue Code
19 of 1986, as it existed prior to December 22, 2017.
20 (B) For exemption applications filed in calendar years year 2018
21 through 2024, and each calendar year thereafter, the income eligibility
22 amounts in subsections (2) and (3) of this section shall be adjusted by
23 the percentage change in the Consumer Price Index for All Urban Consumers
24 published by the federal Bureau of Labor Statistics from the twelve
25 months ending on August 31, 2016, to the twelve months ending on August
26 31 of the year preceding the applicable calendar year.
27 (ii) The income eligibility amounts shall be adjusted for cumulative
28 inflation since 2014. If any amount is not a multiple of one hundred
29 dollars, the amount shall be rounded to the next lower multiple of one
30 hundred dollars.
31 (b)(i) For exemption applications filed in calendar year 2025 and
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1 each calendar year thereafter, the income eligibility amounts in
2 subsections (2) and (3) of this section shall be adjusted by the
3 percentage change in the House Price Index published by the Federal
4 Housing Finance Agency from the twelve months ending on August 31 of the
5 year preceding the applicable calendar year.
6 (ii) The income eligibility amounts shall be adjusted for cumulative
7 change in the House Price Index published by the Federal Housing Finance
8 Agency since 2014. If any amount is not a multiple of one hundred
9 dollars, the amount shall be rounded to the next lower multiple of one
10 hundred dollars.
11 Sec. 2. Original section 77-3507, Reissue Revised Statutes of
12 Nebraska, is repealed.
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Statutes affected:
Introduced: 77-3507