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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.