Eustis passes LB840 plan

EUSTIS, Neb. – In a significant step toward community development, voters in the Village of Eustis passed two propositions Tuesday to introduce a 0.5% sales and use tax, expected to fund economic development projects under the LB 840 plan. Proposition 1, approving the sales tax increase, garnered 114 votes in favor and 93 against, while Proposition 2, which permits allocating the tax revenue specifically for economic development, passed with 122 votes in favor and 84 against.

The approved tax increase will raise the total local sales tax rate to 7%, with 5.5% going to the state and the remaining 1% currently dedicated to reducing property taxes and improving infrastructure. This new measure is anticipated to generate approximately $40,000 annually, marking a significant resource for initiatives aimed at business attraction, housing and childcare support, and sustaining the Eustis Senior Center.

The economic development program aligns Eustis with over 90 Nebraska communities, including nearby Curtis, Cambridge, and Cozad, that have implemented similar LB 840-backed programs to boost local growth. By approving these measures, Eustis aims to level the playing field with these towns in attracting businesses, new families, and critical infrastructure projects.

The sales tax applies broadly, affecting most goods and services while exempting groceries, prescription drugs, and certain medical devices to avoid adding strain to essential household budgets.

As Eustis embarks on this new chapter, the funds generated through the sales tax are set to support not only the senior center but the village’s overall economic viability.