Create a homestead exemption

This bill creates a new homestead tax exemption for Nebraska residents, allowing owners to exclude the first $100,000 of their home's actual value from property taxes starting in 2025. The law applies to all homeowners who live in the property and works alongside existing exemptions for seniors, disabled individuals, and veterans, which remain available in addition to the new deduction. It also establishes a process for transferring these tax benefits to a new home if an owner sells their current residence and buys another before August 15 of the same year. To support this change, the bill requires the state to issue standardized application forms and ensures that the tax revenue lost from these exemptions is reimbursed by the state.