Q. It seems like property valuations have gone up substantially, does that mean the amount of taxes I pay for the school is going to go up substantially?
A. It seems that most houses in town have gone up 14%.
So, if your house was worth $100,000 this past year it will now be valued at $114,000 for this upcoming year. It would be logical to think your taxes that you pay the school will go up 14% also. As Football Analyst Lee Corso says, “No so fast, my friend.” The reason I say that is because the Unicameral passed LB 243, and it puts an actual cap on how much property tax a school district can ask of the taxpayer. This past year we asked for $6,660,299 for the general fund and LB 243 says at most we can ask for this upcoming is $6,727,513.00 that is an increase of only $67,214.00, which is less than 1%. The taxes you pay the school can raise at most just under 1%.
