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Published on August 03, 2023
Mayor’s plan includes $6 million property tax rate cut, the largest in 20 years
Mayor Leirion Gaylor Baird said today her proposed mid-biennium budget adjustments provide a historic property tax rate cut for residents and make vital investments in growing a safe and successful community. The City Council public hearing on the Mayor’s proposed budget adjustments is Monday, August 14, and the Council is scheduled to vote on the budget adjustments August 21.
The City adopted a two-year (biennial) budget in August 2022. Adjustments made at the biennial budget midpoint are based on actual revenues versus projections, contract obligations from renewed City personnel contracts, and newly emergent needs.
Gaylor Baird said the mid-biennium adjustments are based on the following three-point plan:
Tax Rate Cut
Lowering City tax levy by a total of $6 million
Operational Investments
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)
Infrastructure Investments
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)
Gaylor Baird noted the tax rate cut equating to a $6 million reduction in property tax is the largest made by the City in 20 years and follows previous tax rate cuts in FY22-23 and FY 21-22. The City’s balanced package of budget cuts and adjustments includes operational investments in public safety personnel, public transit, and new equipment for Lincoln Fire and Rescue to ensure adequate service to growth areas of the city.
The plan also contains infrastructure investments to improve Lincoln’s parking system, support relocation associated with Lincoln Fire and Rescue facility improvements, promote economic vitality, and improve the quality of life for seniors by providing funding for the new Aging Partners senior center at Victory Park.
“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 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. The City’s Fiscal Year 2023-2024 operating budget would be $261 million.
More information on the City budget is available at finance.lincoln.ne.gov.