Limit increases in property tax bills

Nebraska's LB 424 limits how much property taxes can increase annually for homeowners. It caps yearly tax bill increases at the lesser of the inflation rate (based on the U.S. Consumer Price Index) or 3%, preventing rapid spikes. This directly affects property owners whose annual tax bills would otherwise rise faster than this limit, unless the increase results from home improvements. The bill applies to all real property tax bills issued in Nebraska.