Homestead Exemption - Category 1 (persons 65 or older)
Exempts a percentage (100% down to 10%, based on household income) of your home's taxable value, up to the 'exempt amount': the county's average assessed value of a single-family home or $40,000, whichever is greater. In Douglas County (Omaha) the 2026 maximum exempt amount is $302,282. The state pays that share of your tax to the county.
- Who qualifies
- You must be 65 or older before January 1 of the application year, own the home (deed, land contract, life estate or trust beneficiary) and live in it from January 1 through August 15. Home plus up to one acre. Your home's value must be below the county 'maximum value' (200% of the county average or $95,000, whichever is greater; Douglas County 2026: $604,564); the exemption shrinks 10% for every $2,500 over that and ends at $20,000 over.
- Income limit
- 2026 applications (2025 household income): full exemption up to $37,000.99 single or $43,400.99 married/closely related; partial exemption up to $54,300.99 single or $64,500.99 married; none above that. Household income includes all Social Security.
- How to apply
- File Form 458 (Nebraska Homestead Exemption Application) and Form 458 Schedule I (Income Statement) with your county assessor. Prior-year applicants get a preprinted form in February. Bring your 2025 income records (tax return, Social Security statement, pensions, IRA withdrawals) and receipts for out-of-pocket medical costs if you want to deduct them.
- Deadline
- After February 1 and on or before June 30 each year. The county board may extend to July 20 on written request (not two years in a row). A late filing up to June 30 of the next year is allowed if your spouse died that year or a medical condition kept you from filing (Form 458L). Neb. Rev. Stat. 77-3512.
- Renewal
- Every year (Form 458 and Schedule I).
- Law
- Neb. Rev. Stat. 77-3501.01, 77-3505.02, 77-3507, 77-3510, 77-3512
Source: official page