Forecast of state tax revenues gets $266 million rosier, setting off budget battles

LINCOLN — Gov. Pete Ricketts declared Thursday that new, rosier predictions of state tax revenues should allow property tax relief to move “full steam ahead” next year.

But others said lawmakers need to weigh the best uses for the $266 million added to projected state revenue for the current budget period.

“Property tax is a huge issue in Nebraska, but I also think we have to look at other priorities we have in this state,” said State Sen. Robert Hilkemann of Omaha, an Appropriations Committee member. “How can we be good stewards of this money?”

The Nebraska Economic Forecasting Advisory Board set the stage for a 2020 budget battle by increasing its prediction for Nebraska tax revenue for the two-year budget period ending June 30, 2021.

Read more: https://www.omaha.com/news/state_and_regional/forecast-of-state-tax-revenues-gets-million-rosier-setting-off/article_6da127ae-6d2d-5a1c-8286-2c5db4eae1da.html