Beginning Farmer Exemption for Personal Property
The Beginning Farmer Tax Credit Act provides an exemption of personal property tax for tangible personal property that is used in a qualifying beginning farmer’s or livestock producer’s operation. The personal property exemption is limited to a three-year period for up to $100,000 each year. An Exemption Application for Qualified Beginning Farmer or Livestock Producer, Form 1027, must be filed with the county assessor on or before December 31 of the year preceding the year for which the exemption begins.
To become certified as a beginning farmer or livestock producer, an application must be filed with the board. If the board determines that the applicant is qualified as a beginning farmer or livestock producer, a certification will be issued to the applicant. Detailed information on qualifications and procedure for obtaining the certification is available on the Department of Agriculture’s NextGen website at nextgen.nebraska.gov/index.html.
Once qualified and holding a certificate, the qualified beginning farmer or livestock producer may apply for personal property exemption for agricultural and horticultural machinery and equipment utilized in their operation.