|
Last Monday, March 9, the Nebraska Legislature advanced LB1067 to Select File, the second of three rounds of debate, on a 32-8-9 vote.
LB1067, as amended, would increase the Real Estate Transfer Tax (Doc Stamp) by $1.00 per $1,000 of value on the sale of property in Nebraska. The current rate is $2.32 per $1,000. The additional revenue generated by the proposal would be directed to the Rural Workforce Housing Investment Fund and the Middle-Income Workforce Housing Investment Fund.
Nebraska REALTORS® Association supports the need for additional affordable housing in Nebraska. However, raising these funds through the Doc Stamp means Nebraska property owners are the only group funding these programs. Owning a home remains the American Dream, yet resources from the Rural Workforce Housing Investment Fund have primarily been used to support rental housing units. Nebraska communities need all types of housing, but the Nebraska REALTORS® Association believes funds should be prioritized for owner-occupied housing and that raising taxes on home sales is not the solution.
In addition, LB1067 increases the cost of transferring property, reducing a seller’s proceeds, raising closing costs, and limiting options when purchasing their next home. At a time when Nebraska is already facing a housing affordability crisis, increasing taxes at the point of sale only adds to the cost of buying and selling a home.
Thank you to everyone who took action through our Call for Action (CFA). Your engagement made an impact. We saw more than 452 emails and phone calls to Nebraska senators, reaching 48 of the 49 members of the Legislature.
LB1067 must still advance through two additional rounds of debate: Select File and Final Reading. If passed, the measure would take effect three months after the Legislature adjourns. The Legislature is currently scheduled to adjourn on April 17, 2026, although that date could change.
We will continue to keep members informed as the bill moves through the remainder of the legislative session.
Learn more about LB1067
See how your Senator voted here
Find your Senator
Talk to your Sellers about LB1067
|