Limit the amount of property taxes that may be levied by a political subdivision

Nebraska's LB 1219 limits annual property tax increases for local governments (like cities, counties, and school districts) starting in 2027. It replaces previous tax growth rules by capping yearly increases at 2% plus the area's real property value growth rate. The "real growth percentage" is calculated based on new construction, annexations, or other value changes to properties, ensuring tax hikes align with actual property value growth. This bill directly affects all local taxing entities by restricting how much they can raise property taxes each year.