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2025-01-10   

rich9 customer service School property tax debates past, present and yet to come will once again haunt the state’s elected officials in the new 109th Legislature. One of western Nebraska’s five state senators will push for millions of dollars in extra tax relief after the Unicameral’s summer special session “frontloaded” a 30% K-12 school income tax credit onto December’s 2024-25 property tax bills. Sen. Brian Hardin of Gering cites a State Capitol argument whether doing so deprived property owners of their 2023-24 income tax credit. Gov. Jim Pillen, who failed to win enough support for sweeping tax changes in the extra session, meanwhile renewed his efforts with a “2024 School Property Tax Report” released Nov. 8. It included data on 2024-25 K-12 districts’ aid and property tax requests. Lowering the former typically boosts the latter, it said. Senators need to seek “predictability of aid given to school districts,” it added, to “allow Nebraska to have sustained property tax reductions for the first time in its history.” Star-Herald analyses found mixed pictures on both questions for western Nebraska property owners, at least regarding the 2024-25 tax bills they’ll get in the mail next month. A formula provided by state budget officials shows the K-12 income tax credits — which thousands of Nebraskans never claimed — will refund 30% of all property owners’ eligible 2023-24 school taxes as a second direct discount on 2024-25 property tax bills. But it won’t equal a 30% break on their latest school taxes for the three Scotts Bluff County agricultural operations and two of the three Scottsbluff-Gering area homes the paper tracks each “budget season.” Why? It’s mostly because LB 34’s K-12 school tax credit will continue to run one year behind, as the income tax credit did from its debut in 2020. It also excludes the schools’ portions of the older but smaller 2023-24 Property Tax Credit Fund break — also taken off December tax bills — and the homestead exemptions some homeowners receive, said Lee Will, director of the state Department of Administrative Services. Those factors yield effective 2024-25 school tax discounts from 24.8% to 27.8% for a ranch southeast of Lyman and farms with mixed soil types northwest of Mitchell and southwest and southeast of Melbeta. They’ll be worth 27.9% for the Star-Herald’s Home 1, located in Scottsbluff’s Westmoor neighborhood, and 28.2% for Home 2 in Gering’s Legion Park neighborhood. The picture is more complicated for Home 3 in east Terrytown, which has received a full homestead exemption since 2019. The Nebraska Taxes Online website won’t report parcels’ 2024 homestead exemption status until final tax bills are sent out. If the Terrytown home’s full exemption was renewed for 2024, that most likely will again cancel out the home’s tax bill. But if not, it won’t get the new K-12 tax credit this year — because its owners didn’t have to pay taxes in 2023. A trio of term-limited lawmakers, including Sen. Steve Erdman of Bayard, contend that property owners are being shortchanged by the school income tax credit’s transition to a direct discount. LB 34 dealt them a “missing year” of tax relief, the lawmakers argued, if they paid their 2023 school taxes during 2024. Hardin said he’ll introduce a bill to make up the perceived shortfall. “We took the 2023 monies and flipped them end for end and said we’ll get them in 2024,” he said. But LB 34 didn’t deprive any property owner of a 2023 school tax break, countered North Platte Sen. Mike Jacobson. Instead of claiming it when they do 2024 income taxes after New Year’s, he said, they’ll get it before Christmas off the top of their 2024 property taxes. In fact, Jacobson added, Nebraskans who paid their 2023 property taxes last December can get both the 2023 K-12 income tax credit — if they claim it — and the direct 2023 discount next month. “We told people it’s not that anybody lost out,” said Jacobson, who hopes to join the Revenue Committee in 2025. “It’s that some people double-dipped.” Even if there were a “missing year,” he said, it’s highly unlikely the Legislature can find $560.7 million — the amount allocated for K-12 income tax credits for 2023 — on top of the $750 million for the new direct discount. The Legislature’s Tax Rate Review Committee told senators Wednesday that the state’s budget balance by 2026-27 could be more than $432 million below its legal minimum reserve if lawmakers make no changes. “If anybody thinks a bill’s going to pass the Legislature that will cost $500 million to ‘make people whole,’ that’s not going to happen,” Jacobson said. The same cloud hangs over Pillen’s renewed call for even higher property tax relief, acknowledged as Nebraska’s largest single budget item in the governor’s Nov. 8 report. It lauded the 244 school districts for holding statewide growth in their 2024-25 property tax requests to 2.8% — the slowest pace this century. Senators slapped a basic 3% lid last year on how much K-12 districts can charge. But four fast-growing metro-area districts — Lincoln, Millard, Papillion-La Vista and Gretna — accounted for 82% of the $76.1 million in school property tax growth over 2023-24, the report said. Those four also lost a combined $56.3 million in state aid. The aid formula founded in 1990 “has become a large reason as to why some local school districts continue to need to increase local taxes,” the report said. The correlation between school-aid cuts and higher tax requests didn’t hold up universally, according to the Star-Herald’s analysis of Pillen’s report. Four of the Panhandle’s 20 districts — Gering, Morrill, Bayard and South Platte — both absorbed state-aid cuts and raised their tax requests by more than the 2.8% statewide average. Bayard’s situation was specifically referenced in Pillen’s report. But six others, including Scottsbluff, Mitchell and Minatare, held their tax-request growth below the average despite losing ground in state aid. Scottsbluff Public Schools’ 2024 school aid fell by 0.6%, but the district slashed its 2024-25 property tax request by 15.5%. The school board voted in June to pay off its Bluffs Middle School renovation bonds five years early. Pillen’s report acknowledged that state-aid levels don’t explain all K-12 tax increases. They “could be due to a loss in state aid ... increasing needs in the community or simply from overspending,” it said. Stuart Simpson, who will retire in June as North Platte’s executive director of finance, said the aid formula is meant to adjust for each district’s unique circumstances. It steers “equalization aid” to districts with educational “needs” that cost more than their “resources,” mainly property taxes. But Simpson said it’s how the school-aid formula measures “needs” — largely student populations, family incomes and families for whom English isn’t their first language — that so often frustrates taxpayers and lawmakers. “You can’t compare North Platte to Scottsbluff or Lexington or Alliance or McCook,” he said. The formula “is trying to address the needs of school districts compared with the economic development in the community.” If the Legislature “pushes down the property taxes” with more dollars, “they’ll push more into equalization aid to support a school district,” said Simpson, who became Alliance’s school finance director the year the current aid formula was founded. “But how can you do it when you have a shortfall?” The Star-Herald's final "tax tracker" story for Scotts Bluff County's 2024-25 "budget season" shows unofficial gross and net tax bills for three sample Scottsbluff-Gering homes and county agricultural operations apiece. The Star-Herald's second "tax tracker" story of the 2024-25 local "budget season" accounts for final taxable values and the Legislature's making a K-12 income tax credit an automatic tax-bill discount. A summer 2024 Unicameral special session changed a potential 30% income tax break on Nebraska property owners' 2023 school taxes into a direct discount on December's 2024 property tax bills. Schools' share of other 2023 property tax credits, including homestead exemptions, are excluded from the new direct credit. Here's the estimated 2024 school tax breaks from "frontloading" the former income tax credit for the Star-Herald’s sample Scottsbluff-Gering homes and Scotts Bluff County agricultural properties: • Home 1 (Scottsbluff): 27.9% • Home 2 (Gering): 28.2% • Home 3 (Terrytown): zero* • Ag 1 (ranch, southeast of Lyman): 27.8% • Ag 2 (farm, northwest of Mitchell): 24.8% • Ag 3 (farm, southwest and southeast of Melbeta): 27.6% *Received a full homestead exemption in 2023, canceling out potential school property tax credit. Home 3 likely will pay zero in 2024 property taxes if its full homestead exemption is renewed. Sources: State of Nebraska, Scotts Bluff County; Star-Herald analysis We're always interested in hearing about news in our community. Let us know what's going on! Stay up-to-date on the latest in local and national government and political topics with our newsletter. {{description}} Email notifications are only sent once a day, and only if there are new matching items.

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LYNSEY McLEAN has a matchday to-do list longer than an orangutan’s throw-in. And I’m pretty sure it doesn’t include grabbing a shovel and putting in a shift like a navvy. Advertisement 4 St Mirren general manager Lynsey McLean clearing the snow in Paisley 4 Volunteers chipped in to make sure the game went ahead Yet come half two, there was St Mirren ’s general manager, out with the stewards and turnstile operators and ball boys, putting her back into hoofing piles of snow off the pitch. Still in her day-job gear of short-sleeved top, skirt and boots , too. Why? Because there were thousands of her club’s fans standing outside the stadium, desperate for one of the biggest home games of the season to go ahead. Because 1,500 Dons diehards had braved the snow to make it a near sell-out. Advertisement read more football stories COLD BEERS SPFL side spotted going for a PINT after their bus got stuck in the snow MEGA OFFER Get £50 in free bets to spend on football when you stake £10 with Betfred Because two sets of players had sweated bullets all week for the chance to get out there and do their jobs . Because once you’re there, once you’ve braved the elements to get through the gates, being told, ‘It’s Aff’, is the worst feeling on earth . At which point, I’ll make my feelings on Saturday’s fiasco of a fixture list clear — EVERY game should’ve been ‘Aff’ at first light of a frozen Saturday morning. If the people who run our leagues gave a toss for the safety and comfort of supporters, players, club staff, emergency workers and more, they wouldn’t have asked any of them to travel on a day when the weather was foul and roads were a nightmare. Advertisement Most read in Sport TICKET TALKS Celtic ultras slam Hearts for sparking 'unnecessary division' among Hoops fans FAN ROW Roy Keane says 'I'll wait for you in car park' in confrontation with Ipswich fan RED HOT SCOT Scott McTominay hailed as Serie A's best midfielder by legend of rival club Breaking HIT AND RUN Car 'deliberately' ploughs into fans outside Premier League stadium after match Then again, if those people gave a toss for all of the above, one of them would surely have popped their head above the parapet to explain why instead they chose to leave us all at the mercy of the elements. A two-minute radio interview with Neil Doncaster , that would have done it. Tell us why all the risks people took were worth it. Celtic release 2024 Christmas advert as fans rave after three Hoops heroes make appearance Tell us why they allowed, for instance, Stenhousemuir to set out on a bus run to Cove that ended in a snowdrift just outside Perth . Tell us why Dundee United and Dunfermline were wrong to ask for more time to prepare after stressful journeys littered with holds-ups and accidents . Advertisement Tell us why, for the first time I can ever remember, referees were told to push kick-offs back as far as need be rather than making early calls. Maybe even just say well done to all those volunteers battling, many of them in vain, to try to get a ball kicked. You know, show a bit of leadership. Make the Lynsey McLeans of the world feel like they matter as much to the SPFL as their clubs do to them. Advertisement Sadly, though, even this most basic level of empathy seems beyond the pay grade of the SPFL’s invisible men . So all we’re left to presume is this, that on a day when they had sold two top-flight matches for live evening telly coverage, they were s***-scared to tell Celtic and Hibs it was OK for them to travel to Dundee and Edinburgh . 4 Snow around the pitch at Ibrox Credit: PA But not for Aberdeen to go to Paisley or Dundee United to Glasgow . Advertisement That’s my guess, and it might be miles off the mark. But what else is there to do but speculate when we’re run by a cabal who see absolutely no need to explain anything to anyone, to justify any decisions they ever make? Or, in this case, which they fail to make. See, that’s the bit Doncaster and his cronies don’t get, the fact that if you don’t explain yourself, the world will make its own mind up. Advertisement That lack of communication was the difference between us shaking our heads and laughing at the catalogue of ever-more bizarre events that mounted up, and us cursing them upside down for allowing it all to happen on Saturday. Ref Don Robertson ordering Dundee United players to stop warming up and get stripped for action at 3.45, even though they only reached Ibrox at 2.58. Dunfermline feeling the need to issue an angry statement after being given the same short shrift at Somerset Park . Then there was perhaps my favourite moment of the whole caper, news that even though Ross County against Motherwell WERE ready to start at three, VAR was down and there would be a 15-minute delay. Advertisement Throw in the fog at Dens, kick- off at Montrose v Annan going back two hours to 5pm, and much more besides. 4 Snow outside Tynecastle before Hearts' clash with Celtic Credit: Kenny Ramsay It’s clear that if ever there was a day for SPFL to be fully on-message and in tune with those at the sharp end, this was surely to hell it. So the fact that they hid behind the sofa as per? The fact they said and did hee-haw? Advertisement Well, it should remind us of two things. One, they are about as much use as a crispbread snow shovel. And two, that the ones who REALLY keep football going are the one who shifted the snow and hung around for the turnstiles to open, who drove the buses, and who kept the hot drinks coming. You can talk commercial deals all you like, call it a money-driven business all you like, shrug that TV rules the roost these days. Advertisement But without the volunteers, without the pie stall workers, without the bus drivers and, probably most of all, without the ones who buy the tickets , there’s simply nothing. We saw that in its most human form at Paisley on Saturday, where there literally would have been nothing had dozens of unpaid grafters not shifted a mountain of snow so ref John Beaton could start what turned out to be a tremendous, end-to-end battle. Read more on the Scottish Sun REST EASY Andy Murray flooded with messages as he shares heart-breaking family update COUGH UP Motorhome park owner shuts after guests leave without paying using shock trick That’s what this game of ours is all about. These are the real heroes. While the ones in the blazers? Just call them Storm Berks. Advertisement Keep up to date with ALL t h e latest news and transfers at the Scottish Sun football page

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The Board of Jinhui Shipping and Transportation Limited (the “Company”) is pleased to announce the unaudited condensed consolidated results of the Company and its subsidiaries (the “Group”) for the quarter and nine months ended 30 September 2024. Given the rebound of market freight rates driven by robust demand for dry bulk commodities, limited supply of vessels and the increase in number of owned and chartered-in vessels, the Group recorded a significant increase in the chartering freight and hire revenue for the first nine months of 2024 as compared to the depressed freight market upon the weak dry bulk shipping market sentiment for the first nine months of 2023. Market freight rates have recovered from the low level as seen in the beginning of the year despite the simultaneous occurrence of multiple geo-political issues that affected business sentiment. The Group reported a revenue for the third quarter of 2024 of US$45,585,000, representing an increase of 127% as compared to US$20,038,000 for the corresponding quarter in 2023. The Company recorded a consolidated net profit of US$7,595,000 for the current quarter as compared to a consolidated net loss of US$8,079,000 for the corresponding quarter in 2023. The consolidated net loss for last corresponding quarter in 2023 was attributable to the exposure to declining freight rates at such unexpected weak dry shipping market and the impairment loss on assets held for sale of US$1,897,000 recognized upon reclassification of one Supramax for which the Group entered into a disposal agreement. Basic earnings per share for the third quarter was US$0.070 as compared to basic loss per share of US$0.074 for the same quarter in 2023. The average daily time charter equivalent rates earned by the Group’s fleet increased 74% to US$15,290 for the third quarter of 2024 as compared to US$8,796 for the corresponding quarter in 2023. Revenue for the first nine months of 2024 reached US$114,724,000, which is a significant increase compared to US$57,265,000 during the same period in 2023. This represents a doubling of revenue year-over-year. The Company recorded a consolidated net profit of US$18,816,000 for the first nine months of 2024 whereas a consolidated net loss of US$27,340,000 was reported in the first nine months of 2023. Basic earnings per share for the period was US$0.172 as compared to basic loss per share of US$0.250 for the first nine months of 2023. The average daily time charter equivalent rate for the fleet improved 70% to US$14,446 for the first nine months of 2024 as compared to US$8,520 for the same period in 2023. The Board has resolved not to recommend the payment of any interim dividend for the quarter ended 30 September 2024. Third Quarter of 2024. In the third quarter of 2024, the momentum in dry bulk shipping market remained positive as limited newbuilding deliveries and increasing tonnage scrapping activities had kept the fleet growth at a reasonable level. During the quarter, the Baltic Dry Index (“BDI”) opened at 2,050 points at the beginning of July. It rose to a peak of 2,179 points in early July and closed at 2,084 points by the end of September 2024. The average of BDI for the third quarter of 2024 was 1,871 points, which compares to 1,194 points in the same quarter in 2023. Revenue for the third quarter of 2024 was US$45,585,000, representing an increase of 127% as compared to US$20,038,000 for the third quarter in 2023. The Company generated a consolidated operating profit before depreciation and amortization amounted to US$21,642,000 for the current quarter as compared to US$4,025,000 for the last corresponding quarter. As of 30 September 2024, the Group operated twenty-four owned vessels and nine chartered-in vessels as compared to twenty-four owned vessels and one chartered-in vessel for the same period of last year. During the quarter, a Capesize vessel which has been contracted to acquire in February 2024 was delivered to the Group. In the third quarter of 2024, our Panamax fleet achieved an average daily time charter equivalent rate (“TCE”) of US$14,555, while the Ultramax/Supramax fleet recorded US$15,228. In comparison, during the same quarter of 2023, the Panamax fleet recorded US$15,104 and the Ultramax/Supramax fleet recorded US$8,531. Other operating income increased from US$2,502,000 from the third quarter of 2023 to US$4,444,000 for the current quarter mainly due to the Group recording a net gain of US$2,140,000 on financial assets at fair value through profit or loss for the third quarter of 2024 while a net loss of US$130,000 on financial assets at fair value through profit or loss was recorded and included in other operating expenses for the same quarter of 2023. Shipping related expenses rose from US$12,572,000 for the third quarter of 2023 to US$24,147,000 for the current quarter mainly attributable to the rise in hire payments upon the increase in number of chartered-in vessels. Throughout the nine-month period, the Group engaged in certain inward time charters engagements, resulting in approximately US$8 million in hire payments for these short-term leases during the third quarter of 2024. The daily vessel running cost of the Group’s owned vessels slightly increased to US$5,302 for the third quarter of 2024 as compared to US$5,181 for the third quarter of 2023 as certain initial running costs and expenses were incurred for newly delivered vessels. We will continue with our cost reduction effort, striving to maintain a highly competitive cost structure when stacked against other market participants. Other operating expenses decreased 62% from US$3,163,000 for the third quarter of 2023 to US$1,209,000 for the current quarter. This decrease was mainly due to the recognition of an impairment loss on assets held for sale (disposed vessel), which amounted to US$1,897,000 in the same period of last year. Depreciation and amortization of the Group increased from US$10,300,000 for the third quarter of 2023 to US$12,473,000 for the third quarter of 2024. The increase was attributable to the recognition of depreciation of US$4,753,000 on right-of-use assets for long-term chartered-in vessels for the current quarter whereas US$2,124,000 was recorded in last corresponding quarter. The Group’s daily vessel depreciation decreased to US$3,467 for the current quarter as compared to US$3,596 for the corresponding quarter in 2023. This reduction is attributed to lower carrying amounts of owned vessels following the recognition of an impairment loss on these vessels at the end of 2023. Finance costs decreased from US$1,804,000 for the third quarter of 2023 to US$1,574,000 in the third quarter of 2024. The reduction was due to a decreased recognition of interest expenses on lease liabilities, which amounted to US$299,000 during the quarter as compared to US$568,000 for last corresponding period. First Nine Months of 2024 Statement of Cash Flows and Statement of Financial Position as at 30 September 2024 During the first nine months of 2024, upon financing of delivery of two vessels, the Group maintained positive working capital position and had cash and cash equivalents of US$22,460,000 (31/12/2023: US$40,250,000). Net cash generated from operating activities after working capital changes was US$56,791,000 (30/9/2023: US$6,122,000), of which US$4,844,000 (30/9/2023: US$4,481,000) related to changes in working capital. For the first nine months of 2024, net cash used in investing activities was US$61,228,000 (30/9/2023: US$4,253,000). This included US$10,414,000 cash proceeds received from the completed disposal of one Supramax, US$68,188,000 on acquisition of two motor vessels and dry-docking expenditure and US$4,800,000 on deposit paid for acquisition of a Capesize which will be delivered to the Group during the fourth quarter of 2024. During the first nine months of 2024, the Group had drawn new secured bank loans of US$50,876,000 (30/9/2023: US$30,474,000) and repaid US$51,975,000 (30/9/2023: US$28,220,000). The Group’s total secured bank loans decreased from US$88,167,000 as at 31 December 2023 to US$87,068,000 as at 30 September 2024, of which 19%, 8% and 73% are repayable respectively within one year, in the second year and in the third to fifth year. The bank borrowings represented revolving loans, term loans and property mortgage loans that were denominated in Hong Kong Dollars. All bank borrowings were committed on floating rate basis. As at 30 September 2024, the total of the Group’s equity and debt securities, bank balances and cash decreased to US$43,019,000 (31/12/2023: US$62,613,000). The gearing ratio, as calculated on the basis of net debts (total interest-bearing debts net of equity and debt securities, bank balances and cash) over total equity, was 12% (31/12/2023: 7%) as at 30 September 2024. With cash, marketable equity and debt securities in hand as well as available credit facilities, the Group has sufficient financial resources to satisfy its commitments and working capital requirements. As at 30 September 2024, the Group is able to service its debt obligations, including principal and interest payments. Capital Expenditures and Commitments Capital Expenditures During the first nine months of 2024, the Group incurred capital expenditure of US$67,925,000 on additions of motor vessels and capitalized drydockings and US$263,000 on other property, plant and equipment. For the first nine months of 2023, capital expenditure of US$3,666,000 was incurred, including US$3,564,000 on capitalized dry-dockings and improvements to motor vessels and US$102,000 on other property, plant and equipment. During the first nine months ended 30 September 2024, the Group entered into two shipbuilding contracts for the construction of two newbuildings, each at a consideration of US$34,000,000 of deadweight 63,500 metric tons, to be delivered in 2026 and 2027 respectively. As at the reporting date, the capital expenditure commitments contracted by the Group but not provided for was US$68,000,000 (31/12/2023: nil). The Group further entered into a charterparty in respect of leasing of a Capesize of deadweight 207,672 metric tons, built in year 2017, for a term of minimum thirty-three months; the vessel will be delivered to the Group between 1 January 2025 to 31 March 2025. An unaudited value of the right-of-use asset of approximately US$26,640,000 will be recognized on the date of delivery of the vessel. As at the reporting date, the capital expenditure commitments contracted by the Group but not provided for was approximately US$26,640,000 (31/12/2023: nil). During the current quarter, the Group entered into an agreement in respect of the acquisition of a Capesize of deadweight 178,021 metric tons, built in year 2008, at a purchase price of US$24,000,000, to be delivered to the Group in the fourth quarter of 2024. As at the reporting date, a deposit of US$4,800,000 for the vessel was paid, the capital expenditure commitments contracted by the Group but not provided for, net of deposits paid, was approximately US$19,200,000 (31/12/2023: nil). In 2018, the Group entered into the co-investment documents to co-invest in a property project in Tower A of One Financial Street Center, Jing’an Central Business District, Shanghai, the PRC, pursuant to which the Group is committed to acquire non-voting participating class A shares of Dual Bliss Limited of US$10,000,000. Dual Bliss Limited is one of the investors of the Co-investment. As at the reporting date, the capital expenditure commitments contracted by the Group but not provided for was US$372,000 (31/12/2023: US$372,000). As at the reporting date, the total amount of capital expenditure commitments contracted by the Group but not provided for, net of deposits paid, was US$114,212,000 (31/12/2023: US$372,000). Save as disclosed above, there was no other significant capital expenditure commitments contracted by the Group but not provided for as at the reporting date. Source: Jinhui Shipping and Transportation LimitedIs Outlook down? Thousands of Microsoft 365 users report outage issues

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