Property taxes

Omaha voters approved six general obligation bond measures totaling $333.4 million last week, none of which required a tax increase.

Homeowners across the nation could realize savings from as little as $20 per year to having their bill wiped out entirely.

Many states are capping or trying to eliminate property taxes that support bond issuance.

Chicago Mayor Brandon Johnson on Wednesday proposed a $17.3 billion fiscal year 2025 budget that calls for a $300 million property tax increase, but does not touch pension funding levels.

As federal funding dries up, cites are searching for new funding sources.

Houston and other Texas cities face financial pressure caused by weather disasters, public safety salaries and pensions, or capped property tax collections.

The districts, which finance public infrastructure for housing developments, are dealing with limited revenue growth and state actions to cut property taxes.

Stagnant per-pupil state funding amid rising costs led to budget deficits, lower reserves, and ballot proposals to raise property tax rates for some districts.

Initiatives planned for the Nov. 5 ballot raised concerns in the state's municipal bond market over higher borrowing costs and litigation.

Property taxpayers want a state court to order the city to reduce its 2024 tax levy by $187 million earmarked for a now-downsized mass transit plan.