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S-corporations, partnerships, estates, and trusts that did not claim the credit or allocate the school district property taxes they paid in 2020, may claim the credit on their 2021 Nebraska return. Credit for Property Taxes Paid in 2020. The credit is only available for school district property taxes paid.
3800N. Form. Nebraska Incentives Credit Computation for Tax Year 2021 (06/2022)
Instead, sign up for the subscription service at revenue.nebraska.gov to get updates on your topics of interest. The Property Tax Credit Act (Act) was created in 2007 and the purpose of the Act is to provide property tax relief for property taxes levied against real property. The operative statutes are found in Neb.
Stat. 77-3502. To qualify for a homestead exemption under this category, an individual must: ❖ Be 65 or older before January 1 of the application year; ❖ Own and occupy a homestead continuously from January 1 through August 15; and ❖ Have qualifying household income see Table I. Maximum Exempt Amount.
Basic Qualifying Rules Have a valid Social Security number by the due date of your 2022 return (including extensions) Be a U.S. citizen or a resident alien all year. Not file Form 2555, Foreign Earned Income. Meet certain rules if you are separated from your spouse and not filing a joint tax return.
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Homestead Exemption Categories There are no income limits and homestead value requirements for categories 4 and 5. The State of Nebraska reimburses counties and other governmental subdivisions for the reduction in tax revenue as a result of approved homestead exemptions.

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