OMAHA, Neb. (KMTV) — The Papio-Missouri River Natural Resources District says its board voted for a decreased property tax levy for the 2020 fiscal year.
Homeowners will pay a levy of about $37.38 per $100,000 of their property value, which they say is a decrease compared to last year.
“We are proud to announce the District’s property tax levy will decrease again this year,” said John Winkler, general manager of the Papio NRD. “For 14 out of 15 years, the District has either decreased or kept the tax levy the same. Practicing fiscal responsibility - working strategically and creatively to save taxpayer dollars is our civic duty. We take it very seriously,” said Winkler.
NRD's budget calls for about $26 million from their estimated budget of $70.5 million.
They say the levy "amounts to less than two percent of the total property tax bill for residents living within the District’s six-county area."
Papio-Missouri River NRD says they were able to make the cuts thanks to refinancing of bonds:
Due to the refinancing of 2015 and 2017 Flood Control Protection and Water Quality Enhancement Refunding bonds, the Papio NRD is expected to save District taxpayers $1.8 million over the remaining term of the bonds.
In addition, over the past four years, the District refinanced its 2010 bonds, saving taxpayers $3.5 million, to date.
“Complementing this good news, S&P Global Ratings recently assigned an upgraded ‘AA’ rating to the Papio NRD,” says Winkler. “This will produce additional savings not only during the refinancing of bonds, but also in the future as the District continues to provide flood control and water quality to our District.”
The Papio-Missouri Natural Resources District includes all of Sarpy, Douglas, Washington and Dakota counties, plus the eastern 60% of Burt and Thurston counties.
