Form PTC — Nebraska Property Tax Incentive Act Credit Computation

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Nebraska Property Tax Credit Use this Form with the Forms noted below to claim the property tax credit. Enter the Part B information for each parcel from the Look-up Tool.

# FORM PTC

Name on Tax Return Social Security Number or Nebraska ID Number Type of Nebraska Tax Return this Form is being fled with 1040N 1041N 1065N 1120N 1120NF 1120-SN Part A -Computation of the Credit 1 Credit for community college property taxes. Enter the line 2a amount here and on Form 1040N, Form 1041N, Form 1120N, Form 1120-SN, Form 1065N, or Form 1120NF as appropriate ............................................................................................................................. 1 00 Part B - Community College Property Taxes Paid in 2025 2 Community college property taxes paid in 2025. Total eligible community college property taxes you paid in 2025........................................................................ 2a Property Tax Year (For most this will be 2024.) Nebraska County Number (Do not enter county numbers from license plates.) Parcel ID Number (Must include the dashes for Lancaster County.) Nebraska Community College Property Taxes You Paid 8-822-2025

# Instructions

If you paid Nebraska property taxes yourself directly or through your monthly payments into escrow, use this form to claim the property tax credit. Look up your parcel in the Nebraska Property Tax Look-up Tool (Look-up Tool) to complete line 2. Enter the line 2a amount on line 1. Purpose. The Nebraska Property Tax Credit, Form PTC, is used to identify parcels and compute a tax credit for Nebraska community college property taxes (qualifed property taxes) paid. Nebraska Property Tax Look-up Tool. You can determine the amount of qualifed property taxes paid on a parcel in the 2025 calendar year, by using the Nebraska Department of Revenue's (DOR's) Nebraska Property Tax Lookup Tool. DOR strongly recommends using this Look-up tool. Qualifed Property Taxes Paid. The qualifed property taxes are paid on the date received by the county treasurer. The date qualifed property taxes were received is affected by the following rules. 1. Mortgage Escrow Accounts. When your payment to a mortgage company includes an escrow for property taxes, the date the county treasurer receives payment from the escrow account is the date the qualifed property taxes were paid; 2. Parcel Sales - Property Taxes Funded. When you fund property taxes at closing, the related qualifed property taxes were paid when received by the county treasurer. You may claim the allowable credit only for the calendar year that the county received the money from the escrow agent; 3. Parcel Sales - Property Taxes Reimbursed. When the buyer reimburses the seller for property taxes that were already paid, the buyer cannot take the credit on any portion of the reimbursement because the county treasurer already received the taxes paid by the seller. 4. County Treasurer Escrow Accounts. When you make partial property tax payments that are held in escrow by the county treasurer, qualifed property taxes are paid when applied to the parcel in the records of the county treasurer. 5. Tax Sale Certifcate . The qualifed property taxes are received by the county treasurer when collected from the person that purchased the tax sale certifcate. Persons who redeem the tax certifcate are repaying a loan to obtain a lien release. The redeemer cannot take the credit for the redemption. The DOR obtains property tax data from each county treasurer. That data includes the amount of property taxes received during a calendar year. The DOR will use the county treasurer receipt data, unless you can show the county treasurer's data is incorrect. Limitation on Qualifed Property Taxes. Qualifed property taxes paid do not include property taxes levied for bonded indebtedness, taxes levied as a result of an override of the limits on property tax levies approved by voters, or credits applied to the property taxes levied. The Look-up Tool automatically takes these items into account in computing the qualifed property taxes paid. Qualifed property taxes paid do not include property taxes that were fve years or more delinquent at the time of payment. Enter All Qualifed Property Tax Amounts as Whole Dollars. Round any amount from 50 cents to 99 cents to the next higher dollar. Round any amount less than 50 cents to the next lower dollar. Records. All taxpayers must retain records for at least three years after fling the tax return claiming the credit for qualifed property taxes paid. Taxpayers using the DOR's Look-up Tool should print or save the information provided by the Look-up Tool. Who Must File. Form PTC must be fled by the individual, corporation, partnership, LLC, fduciary, or fnancial institution that paid the tax and is claiming the credit. When and Where to File. Form PTC must be fled with the Nebraska income tax or fnancial institution tax return on which the credit is claimed. How to Complete the Form PTC Taxpayers claiming the credit should complete Part B before completing Part A. This form can be completed quickly and easily using the Look-up Tool. Part A - Computation of the Credit Part A is used to compute the credit for qualifed property taxes paid and reported in Part B. Part B - Community College Property Taxes Paid in 2025 Part B is used by individuals, C corporations, S corporations, partnerships, LLCs, fnancial institutions, and fduciaries that paid qualifed property taxes in 2025. Fiscal Year and Short Year Filers . The credit may be claimed in the frst income tax year that begins in the calendar year the qualifed property taxes were paid. Fiscal Year Filers. Taxpayer's with a fscal year beginning in 2025 and ending in 2026 may complete Part B for qualifed property taxes paid during the entire 2025 calendar year. The credit claimed in this fscal year cannot include any qualifed property taxes paid in 2026.

Short Year Filers. Taxpayers with a short period beginning in 2025 and ending in 2026. If this is the frst short year beginning in 2025, complete Part B for qualifed property taxes paid during the entire 2025 calendar year. Taxpayers with a short period beginning and ending in 2025. If this is the frst short year beginning in 2025, complete Part B for the qualifed property taxes paid during the entire 2025 calendar year. You may have to fle an extension to be sure that the information will be available in Look-up Tool at the time you fle the frst short year return. Taxpayers fling for the second short period beginning in 2025 cannot claim the credit on the second short period return. Information must be entered separately for each parcel for which qualifed property taxes were paid in calendar year 2025. A separate entry must also be made for each property tax year for which qualifed property taxes were paid in 2025. If Part B does not have enough rows to include all the parcels or years for which you paid qualifed property taxes, attach a schedule in the same format as Part B. Example 1. Joe Pear owns two parcels in Lancaster County and paid property taxes on those parcels for the 2024 and 2025 property tax year during the 2025 calendar year. Joe owned parcel 17-12-345-678-000 for the entire 2025 calendar year and purchased parcel 17-87-654-321-000 on July 1, 2024. The total property taxes paid were: Property Tax Year Parcel ID Number Total Property Taxes Paid 2024 17-12-345-678-000 $5,760 2025 17-12-345-678-000 $6,100 2024 17-87-654-321-000 $2,650 2025 17-87-654-321-000 $5,490 Joe used the Property Tax Look-up Tool to compute the qualifed property taxes he paid. Joe entered in the Look-up Tool the total property taxes he paid for the "Actual payments made by Joe Pear to Lancaster County Treasurer in Property Tax Year Nebraska County Number (Do not enter county numbers from license plates.) Parcel ID Number (Include the dashes for Lancaster County.) Nebraska Community College Property Taxes You Paid 2024 55 17-12-345-678-000 259 2025 55 17-12-345-678-000 275 2024 55 17-87-654-321-000 119 2025 55 17-87-654-321-000 247 Total eligible community college property taxes you paid in 2025 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 900 calendar year 2025." Part B of Form PTC should be completed as follows: Property Tax Year. Enter the property tax year for which the qualifed property taxes were levied. Most taxpayers pay their property taxes in the year after the taxes were levied. If more than one year of property taxes were paid in the 2025 calendar year, a separate entry must be made for each property tax year. See example 1 above. Nebraska County Number. Enter the number assigned to the county where the parcel is located. This number is provided by the Look-up Tool or may be found on the County Parcel ID Search. This number is not the same as the county number used for license plates. Do not enter the county number from a license plate. Parcel ID Number. Enter the parcel ID number assigned by the county assessor to the parcel. This number may be found on the Real Estate Tax Statement issued by the county treasurer where the parcel is located. The parcel ID number may also be found using the Look-up Tool. Some counties use the term "property ID" rather than "parcel ID". Parcel ID numbers assigned by Lancaster County include dashes. The parcel ID number entered on Form PTC for parcels located in Lancaster County must include the dashes. The parcel ID numbers for the other 92 counties have either 9 or 10 digits and no dashes. Qualifed Property Taxes Paid. Enter the amount of qualifed property taxes you paid on the parcel during the 2025 calendar year. This amount may be computed using the Look-up Tool or the taxpayer's records. Those records include, but are not be limited to, the Real Estate Tax Statement issued by the county treasurer where the parcel is located. Any property taxes paid that were delinquent for fve years or more at the time of payment cannot be included in the tax credit calculation. LB 34 enacted in the 2024 special session created the School District Property Tax Relief Act. This act provides property tax relief for school district taxes directly on the property tax statement reducing property taxes before they are paid, instead of refunding taxes after they are paid. For tax years beginning on or after January 1, 2024, the Form PTC will only be used to claim a credit for community college property taxes paid. Total Community College Property Taxes Paid in 2025. On line 2a enter the sum of the community college property taxes paid on the parcel or parcels listed in Part B.