Nebraska Property Tax Credit


Nebraska Property Tax Look-up Tool

Regardless of your income tax situation, if you pay property taxes in Nebraska, you are eligible for a refundable income tax credit. For tax year 2022, the credit equals 30% of property taxes paid and received by the county treasurer to schools and community colleges in the calendar year.

To claim your credit, you must file Form PTC and submit it with your  Nebraska income tax return. If you did not claim the credit from 2020 or 2021, you can file Form PTCx to claim those past years.

What does this mean to property owners?

Each taxpayer’s credit varies based on the assessed value of the parcel and the school district in which the tax is levied. According to the Nebraska Farm Bureau,
  • A standard $250,000 home in Nebraska, owing $5,000 in property taxes, is eligible for over $1,000 in total tax credits – a 20% reduction
  • The Average Nebraska Farm, owing $29,000 in property taxes, is eligible for over $8,000 in total tax credits – a 28% reduction!
The Nebraska Department of Revenue website has a Property Tax Look-up Tool to help calculate the credit you are due.

We don’t want you to miss out on the opportunity to receive this credit on your Nebraska taxes. In many cases, your tax preparer will be aware of the credit and may be planning to gather the information. However, if you use a national service (i.e., H&R Block or Turbo Tax) they may not know the credit is available, or the process to claim it on their software may not be user-friendly. The best way to ensure you get credit for each parcel you own is to provide the completed form PTC to your tax preparer or at a minimum, provide a parcel ID for each parcel you own.
Additional information can be found on the Nebraska Department of Revenue website.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.