LINCOLN–(KFOR/News Release Aug. 3)–Mayor Leirion Gaylor Baird is proposing mid-biennium budget adjustments, which includes a $6-million property tax rate cut….the largest in 20 years.
The City’s property tax levy will decrease from 31.293 cents to 29.533 cents per $100 of assessed value. City government receives only a small percentage of the total property tax bill. Out of every property tax dollar paid by Lincoln residents, the City’s share is about 16 cents.
There would be investments toward equipment for Lincoln Fire and Rescue, along with the Lincoln Police and Lincoln Fire pension fund. Investments will also be made to Lincoln’s parking system.
Here are some other proposed adjustments included in the budget.
Tax Rate Cut
- Lowering City tax levy by a total of $6 million
- Public Safety: Lincoln Fire and Rescue (LFR) contract ($1,860,000); two LFR tanker trucks ($850,000); Lincoln Police Department (LPD) and LFR Pension ($580,000); Recruitment/retention specialist and intern dedicated to LPD/LFR/Parks and Recreation ($140,000); Health Department STI staff $(170,000)
- Transportation: Replacement of federal and state revenue cuts to StarTran ($412,000)
- Economic Vitality: Downtown Business Improvement District expansion ($158,000)
- Neighborhood and Family Supports: Aquatics staff pay rate to fully operate public pools ($255,000); Early childhood programming ($100,000)
- Public Safety: Relocation associated with Lincoln Fire and Rescue facility improvements ($1,000,000)
- Economic Vitality: Parking system upgrades ($1,350,000); South Haymarket Park project ($600,000)
- Expanded Senior Services: Victory Park Aging Partners funding ($500,000)
“The proposed mid-biennium budget adjustments reflect the City’s ongoing commitment to public safety, economic vitality, and strong infrastructure, as part of our work to grow a more prosperous and vibrant community,” Mayor Gaylor Baird said. “The record-setting business and development activity and strong economic growth we’re currently experiencing allows us to make these important investments in operations and infrastructure while providing a historic tax rate cut.”
The operating city budget for the second half of the biennium for 2023-24 would be $261-million. City Council members will hold a public hearing August 14 on the proposed budget adjustments and a final vote would be on August 21.