New law provides for personal property tax relief

HARTINGTON — The Personal Property Tax Relief Act, which provides an exemption of the first $10,000 of tangible personal property value, went into effect Jan. 1, 2016.

The Nebraska Legislature approved the change in its last session, said Cedar County Assessor Don Hoesing.

The 2016 personal property schedules which need to be filed at the county assessor’s office on or before May 1, already have a line for the $10,000 exemption. The exemption will be given to each personal property taxpayer.

According to Hoesing, the state lawmakers are trying to show they are doing something to reduce taxes for all personal property tax payers but “especially for ag producers,” he said.