School board member: Many senior citizens missing out on refund

McCOOK, Neb. — Many retired people who do not have to file a tax return are missing out in getting some of their property taxes refunded.

Senior citizens typically don’t have to file a federal income tax return if they are at least 65 years old with Social Security benefits the only income received and have a gross income less than $14,700. Married individuals 65 years or older who file a joint return with a spouse are exempt from filing a return if their non-exempt income plus Social Security is $28,700 or less.

The Nebraska Property Tax Credit allows individuals 65 years and older who don’t file taxes to claim up to 30% of their general fund property taxes that were paid to school districts and community colleges in their county. For Red Willow county, this would be property taxes paid to the general funds of McCook Public Schools and McCook Community College.

McCook School Board member Tom Bredvick said at Monday night’s school board meeting there is $193 million in credits still waiting to be claimed for 2020 and 2021.  That number will only grow with the 2022 filing season in full swing, he said.

He encouraged senior citizens who don’t have to file taxes to take advantage of this tax refund.

Resident individuals may claim the credit by filing a Nebraska income tax return for free over the internet by going here or revenue.nebraska.gov.

Questions regarding the Nebraska Property Tax Credit may be directed to 800-742-7474 (NE and IA) or 402-471-5729.