Omaha, Nebraska – Omaha City Council President Pete Festersen has indicated an intention to further increase property tax relief in the upcoming year.
Mayor Jean Stothert has put forth a budget proposal indicating a 2.1% increment. She asserts that the city’s requirements for an enlarged police budget constrict the extent of relief that can be extended.
Festersen’s proposed amendment seeks to allocate an additional sum, approximating $1 million, towards property tax relief, constituting a rise of around 20%. Commenting on this, Festersen stated, “Property valuations have increased substantially this year for most homeowners. I think it’s important we work to maximize a property tax cut in 2024.”
Moreover, his amendment suggests preserving the current value of the cash reserve, diverging from the initial proposal of an increase.
