Omaha, Why Property Taxes?
Omaha, Why Property Taxes?
Property Tax Revenue Grows
Omaha Mayor Stothert has announced plans to run for Mayor for a fourth term (https://nebraskaexaminer.com/2024/03/26/stothert-running-for-a-record-fourth-term-as-omaha-mayor/). Former Governor, now US Senator, Pete Ricketts criticizes Governor Pillen’s plan a tax-shift (https://nebraskaexaminer.com/2024/03/27/debate-begins-on-massive-tax-bill-proposed-by-governor-to-reduce-property-taxes/). The EPIC Option petition effort continues (https://epicoption.org/).
Omaha City Government has many abilities to tax and should place a cap on property tax revenues, but the City has done very little to keep property taxes low. Yes, they lowered the mil levy but only to not look too greedy. Property tax relief never was the real option. Property tax revenues have increased every year over the last ten years and it shows in the budgets (https://finance.cityofomaha.org/). Change must come because property taxes are merely a step to abolishing home ownership.
In 2014, the City took in 136 million dollars, but year after year, the City took in more. Please note, you can click on an image and expand for a better view. Find contact information for your City Council member here: https://citycouncil.cityofomaha.org/council-members
Property tax revenue goes over 150 million.
Property tax revenue breaks through into 200 million.
For the 2024 budget, the City property tax revenue jumped up by 17 million dollars.
Without hard caps on the amount these government entities are allowed to steal any changes in the tax code are merely shifts and eventually property taxes will come back. The state has done the rebate thing for a few years now. School have NOT dropped the amount they steal by the same amount. Its just another revenue stream for them.
These caps must have absolutely no escape clauses, no voter overrides, no well we had xyz happen and need a one time override. Facility repairs and maintenance should be budgeted for. Some school districts raise their levy to replace HVAC - things that have a fairly well know lifespan. Yet they never budget for this.
On the plus side at least these people are not doing much in the way of teaching fiscal / monetary education.