PTC: Property Tax Incentive Act Credit (2025)
Nebraska · Nebraska DOR · Used for tax years 2025
Nebraska Form PTC identifies property parcels and calculates a credit for qualified Nebraska community college property taxes paid in 2025. It reports eligible taxes paid for each parcel and is filed with the Nebraska income tax or financial institution tax return on which the cr
Who files this form
File Form PTC if you paid qualifying Nebraska community college property taxes and are claiming the credit. This applies to individuals, corporations, partnerships, LLCs, fiduciaries, and financial institutions.
For the 2025 form, Part B covers qualifying property taxes paid during calendar year 2025. Payments may have been made directly or through a mortgage escrow account.
What you'll need
Have these records and details available:
- The name and Social Security number or Nebraska ID number used on your tax return.
- Information from the Nebraska Property Tax Look-up Tool for each parcel. The Nebraska Department of Revenue strongly recommends using this tool.
- Each parcel’s property tax year, Nebraska county number, parcel ID number, and qualifying community college property taxes paid in 2025.
- Your property tax payment records, including the Real Estate Tax Statement issued by the county treasurer, if you calculate qualifying taxes from your own records.
Keep records for at least three years after filing the return claiming the credit. If you use the Look-up Tool, print or save its results.
How to file
File Form PTC with the Nebraska income tax or financial institution tax return on which you claim the credit. The form lists Forms 1040N, 1041N, 1065N, 1120N, 1120NF, and 1120-SN.
- Enter your taxpayer information and select the type of Nebraska return you are filing.
- Complete Part B first, using the Look-up Tool to find the information for each parcel.
- Make a separate entry for each parcel and each property tax year for which qualifying taxes were paid in 2025. If you need more rows, attach a schedule in the same format as Part B.
- Add the qualifying community college property taxes in Part B and enter the total on line 2a.
- Copy line 2a to Part A, line 1, and enter that amount on the appropriate Nebraska tax return.
Common mistakes
- Using a license plate county number. Use the county number from the Look-up Tool or County Parcel ID Search instead.
- Leaving out Lancaster County parcel ID dashes. Lancaster County parcel IDs must include the dashes. Parcel IDs for the other 92 counties have 9 or 10 digits and no dashes.
- Confusing the property tax year with the payment year. Enter the year the taxes were levied. For most taxpayers using the 2025 form, this will be 2024. Use separate entries if you paid taxes for more than one property tax year in 2025.
- Including amounts that do not qualify. Do not include taxes for bonded indebtedness, voter-approved levy overrides, credits applied to the taxes levied, or taxes that were five years or more delinquent when paid. The Look-up Tool accounts for the first three exclusions.
- Entering cents. Use whole dollars. Round 50–99 cents up and amounts below 50 cents down.
- Not keeping records. Retain supporting records for at least three years after filing, and print or save any Look-up Tool results you use.
Questions people ask
Does the 2025 Form PTC cover school district property taxes?
No. For tax years beginning on or after January 1, 2024, Form PTC is used only to claim a credit for community college property taxes paid. School district property tax relief is provided directly on the property tax statement before the taxes are paid.
When are taxes paid through my mortgage escrow account considered paid?
They are considered paid when the county treasurer receives the payment from the escrow account, not when you make your mortgage payment.
Can I claim the credit if I reimbursed the seller for property taxes?
No. If you reimbursed the seller for taxes the seller had already paid, you cannot claim the credit for any part of that reimbursement.
What if I funded property taxes at closing?
You may claim the allowable credit only for the calendar year in which the county treasurer received the money from the escrow agent.
What if my fiscal tax year begins in 2025 and ends in 2026?
You may complete Part B for qualifying property taxes paid during the entire 2025 calendar year. You cannot include qualifying property taxes paid in 2026 in that fiscal year’s credit.