It’s the beginning of fiscal year 2020 for the Papio-Missouri River Natural Resources District and the District has a double-dose of good news for local taxpayers.
Decrease In FY 2020 Property Tax Levy
The Papio-Missouri River Natural Resources District Board of Directors last night voted to approve the Fiscal Year 2020 general operating budget that called for a decreased property tax levy of .037384 per $100 of assessed valuation. This means a homeowner with property valued at $100,000 would pay a total of $37.38 in property taxes next year to support NRD projects.
“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.
The budget calls for an estimated $26 million in revenue from the NRD’s property tax levy. The total operating budget is estimated at $70.5 million.
The Papio-Missouri River NRD’s property tax levy amounts to less than two percent of the total property tax bill for residents living within the District’s six-county area. The levy is based on an estimated 6.86 percent increase in valuations across the District.
Refinancing of Bonds Saves Taxpayers $1.8 Million
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.