What Is the Homestead Exemption in Nebraska?

Nebraska Homestead Exemption Overview

• The homestead exemption in Nebraska provides tax relief by exempting residence value up to $60,000 and 160 rural acres declared a homestead.
• The personal property tax makes up 5.6 percent of total taxes, with rural Nebraskans paying the most per person at $211.87.

Qualifying for Homestead Exemption in Nebraska

• In Nebraska, the homestead exemption is available to persons age 65+ with income under $48,601 or $57,701 combined, qualified disabled individuals, and veterans’ widows.
• Single homeowners with $42,400 income receive some relief, while married couples can get up to $50,300.

Application and Eligibility Details

• Form 458 must be filed between February 2, 2023, and June 30, 2023, for the Nebraska homestead exemption.
• Homestead exemption categories have specific requirements, and missing filings may disqualify applicants.

Additional Information

• The homestead exemption protects the value of a home from property taxes and creditors after the homeowner’s death.
• Laws vary by state, but the general principle remains the same: homeowners are entitled to protection from creditors and property taxes.