Nebraska LB749 amends the calculation of state aid for municipalities based on property tax levies.
Nebraska LB749 modifies the method for calculating state aid to municipalities by determining the average property tax levy for operational purposes. The Department of Revenue will use the prior year's Certificate of Taxes Levied to calculate aid from the Municipal Equalization Fund. Aid is calculated by multiplying the average per capita property tax by the municipality's current population, minus the product of the average property tax levy and the certified valuation. If the calculation results in a negative number, no aid is provided.
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