GoBigEd |
Reporting on key Nebraska K-12 education issues on a daily basis from Susan Darst Williams, a writer who lives at the base of Mount Laundry, Nebraska. To subscribe to this blog's mailing list, and see a variety of other education features and information, visit the main education website, www.GoBigEd.com |
Wednesday, October 30, 2002
Posted
12:05 AM
by Susan Darst Williams
$115 MILLION AT STAKE IN OPS OVERRIDE Property valuation within the Omaha Public Schools is reported as $13,404,229,713. That means if the OPS tax-limit override Nov. 5 is successful and OPS is allowed to tax another 15 cents per $100 valuation in each of the next five years, it'll bring about $23 million extra per year, or an additional $115 million, into OPS coffers. Viewed another way, the owner of a house in OPS valued for tax purposes at $100,000 would have to pay an additional $150 a year, because you take the tax levy rate times the valuation of the property. So a $100,000 homeowner would be paying a minimum of an additional $750 over the next five years. A $200,000 homeowner would be out an extra $1,500. And so on. And that's if property valuations don't rise . . . which they will. At least, they will based on the past in OPS. In the 1985-86 school year, valuations totaled $6,171,125,148, according to OPS budget documents. So they've more than doubled in less than 20 years.
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