Lincoln, Nebraska – The Nebraska Department of Revenue’s Property Assessment Division reminds residents that the submission deadline for the Homestead Exemption program is swiftly approaching.
Form 458, which is vital for the application process, must be lodged with the county assessor no later than Friday, June 30th. This program is designed to offer some relief from property taxes by removing all or part of the taxable value of a person’s primary residence from the tax base.
The state compensates counties and other governing bodies for the resultant loss in property tax revenue. Eligibility for the homestead exemption extends to property owners aged 65 or older as of January 1, 2023; individuals with certain designated disabilities; certain veterans with qualifying disabilities and their surviving spouses; and individuals with developmental disabilities.
However, it should be noted that some of these categories are subject to limitations based on household income and the value of the residency.
For further details, consult the Nebraska Department of Revenue’s official website.
