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Nebraska Homeowners to Receive Payments from the Property Tax Relief Program: Refundable Income Tax Credit

The Department of Revenue confirmed about $193 million of unclaimed Refundable Income Tax Credit for the property tax relief program. Taxpayers are urged to review their tax returns (2020, 2021, and 2022) to see if they have already claimed or are eligible for the credit.
The Department of Revenue confirmed about $193 million of unclaimed Refundable Income Tax Credit for the property tax relief program. Taxpayers are urged to review their tax returns (2020, 2021, and 2022) to see if they have already claimed or are eligible for the credit. (Photo: Nebraska.gov)

Nebraska homeowners might get a pleasant surprise and claim extra money from the Refundable Income Tax Credit. Habitat for Humanity is circulating a flyer urging homeowners to see if they are eligible for the income tax credit in Nebraska.

According to Nebraska Farm Bureau, then-Gov. Pete Ricketts signed the Refundable Income Tax Credit – a property tax relief measure in 2020 that allows property owners to receive a portion of their property taxes through the income tax filing process.

Nebraska property owners are eligible for the Refundable Income Tax Credit. This property tax relief program allows them to receive a portion of their property taxes through income tax filing.

Nebraska property owners are eligible for the Refundable Income Tax Credit. This property tax relief program allows them to receive a portion of their property taxes through income tax filing. (Photo: The New York State Senate)

Also Read: USDA TEFAP: Rural Nebraska Receives Reach and Resiliency Grant

Homeowners can check out how much property tax they paid by using the lookup tool in the Nebraska Property Tax Credit section, accessed through the Department of Revenue website. The amount of property tax is based on the county and parcel number.

Dan Shepherd, an Omaha CPA, explained how to use the tool. He said you could access the Form PTC from the website and then follow steps one and two written in the form to obtain the total amount the state is crediting you. Then, you enter that amount on your tax return.

See: Texas Property Tax Relief: House, Senate Bills Differ on Property Tax Credits 

6 News reports that the Department of Revenue Interim Tax Commissioner Glen White stated that about $193 million of unclaimed Refundable Income Tax Credit for Property Tax Relief remains for tax years 2020 and 2021. He urged Nebraskan taxpayers to review their tax returns for 2020, 2021, and 2022 to see if they had already claimed the credit.

Meanwhile, taxpayers who paid property taxes but failed to claim the credit can file the Amended Nebraska Property Tax Credit, Form PTCX.

Read More: California Mortgage Relief Program Expands to Help Homeowners Pay Delinquent Property Taxes During Pandemic Up to Now 2023

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