Homestead Exemption for Senior Citizens (Circuit Breaker)

State

Nebraska

Year

2022

Variations in Receipt of Benefit

Benefit Varies with Income

Benefit Varies with Property Value

Benefit Type

Circuit Breaker

Benefit

The benefit is a full or partial exemption of taxable property value. The size of the exemption is determined by 10 income brackets. For the 2022 benefit (based on 2021 income), those with income below $36,100.99 (married) and $30,700.99 (single) are entitled to 100% of the maximum exempt amount. The highest income bracket exempts 10% of the maximum exempt amount for those with income between $51,701 and $53,600.99 (married) or $43,501 and $45,100.99 (single). Income requirements are adjusted annually based on the consumer price index.

How is Benefit Disbursed

Exemption from assessed value

Eligible Property Type

Residential

Characteristics of Eligible Property

Residential property, including mobile homes, and up to one acre of land on which the residence is situated are eligible.

Eligibility Criteria

Age

Homeowner

Income Ceiling

Principal Residence

Property Value Limit

Description of Eligibility Criteria

Eligible claimants must be 65 or older and own and occupy the homestead between January 1 and August 15. 2021 income for filing in 2022 must be less than $53,601 (married) or $45,101 (single). Income requirements are adjusted annually based on the consumer price index. The exempt value of the homestead considered for relief is reduced by 10% for every $2,500 it exceeds the greater of $95,000 or 200% of the average assessed value of single-family residential property in the county. If the assessed value exceeds the maximum value by $20,000 or more, the homestead is not eligible for exemption.

Local Option in Adoption of Program

Local government is unable to exercise an option

Local Option Regarding Program Features

No local option regarding program features

State Funding for Local Tax Loss

State reimburses all of the local government tax loss

Description of State Funding for Tax Loss

State reimburses counties and other governmental subdivisions for taxes lost.

Record ID

NE101_RR22

Footnotes

Household income refers to the total federal adjusted gross income (AGI) and Nebraska adjustments, including railroad or retirement benefits which are excluded in the computation of the AGI. Forms must be filed with the county assessor between February 1 and June 30. An income statement must be filed with the application.

Sources

Neb. Rev. Stat. § 77-3501 ~ § 77-3507;
Neb. Rev. Stat. § 77-3510 ~ § 77-3524 (in effect for 2022)
Nebraska Department of Revenue, Homestead Exemption Information Guide (March 2022)
[https://revenue.nebraska.gov/sites/revenue.nebraska.gov/files/doc/pad/info/96-299.pdf Accessed 10/31/2023]
View Archived Source

Nebraska Department of Revenue, 2022 Household Income Table
[https://revenue.nebraska.gov/sites/revenue.nebraska.gov/files/doc/pad/2022_household_income_homestead.pdf Accessed 10/31/2023]
View Archived Source
Nebraska Department of Revenue, Nebraska Homestead Exemption
[https://revenue.nebraska.gov/PAD/homestead-exemption Accessed 10/31/2023]
View Archived Source

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