A homestead exemption provides relief from property taxes by exempting all or a portion of the valuation of the homestead from taxation. The state of Nebraska reimburses the counties and other governmental subdivisions for the taxes lost due to homestead exemptions.
Taxpayers who are 65 years or older by Jan 1, of any given year, have certain disabilities, or are veterans of specified foreign wars may qualify. They must own and occupy the property and meet income requirements which are calculated according to the taxpayer's federal adjusted gross income. The income requirements may fluctuate yearly, according to a Federal sliding inflationary scale.
Homestead exemptions are accepted and processed according to State Statute 77-3510 through 77-3528. The Homestead Exemption must be filed in triplicate when completed.