NORFOLK - Norfolk Public Schools currently opposes LB974, a popular property tax relief bill in the Nebraska Legislature.
At the Board of Education meeting Monday night, board member Tammy Day talked about that bill and others that would affect the district and taxpayers.
Day said the bill would have a detrimental effect on the district’s funding.
"Basically, LB974 moves valuations down in an attempt to relieve some of the property tax burden and then tries to make up for that with foundation aid. Foundation aid won’t make up the amount lost through the decreased valuations, it will cause districts to have to go back to their tax payers with increased levies."
Day said it’ll be interesting to see the bill once it comes out of committee and the potential amendments that might follow.
She said another similar bill they’re paying attention to is LB1073 which is less damaging to equalized schools such as Norfolk, however it does include foundation aid for non-equalized schools.
Day said at this point, they’re taking a neutral stance on it.