- Associated Press - Thursday, April 2, 2015

LINCOLN, Neb. (AP) - Nebraska property owners could see their tax bills lowered by a collective $200 million annually under a tentative state budget.

The funding approved this week by the Appropriations Committee would increase the state’s property tax credit fund by $60 million annually over the next two years. The fund is already set to distribute $140 million over that period, reducing what property owners pay on their local tax bills.

The amount advanced by the committee matches what Gov. Pete Ricketts had requested for the two-year state budget.

Sen. Heath Mello of Omaha, the committee chairman, says the budget still includes room for prison reform legislation and other priorities, but nothing has been finalized.

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