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OMAHA, Neb. (KMTV) — Omaha Public Schools is facing a $50 million budget shortfall heading into next year, and property owners could end up paying more to help close the gap.
The district has released its preliminary budget, which would keep overall spending around $850 million — roughly the same as this year. This was explained at Monday’s board meeting at the TAC building. The source of that funding could shift significantly, with more money coming from local taxpayers and less from the state.
At the center of the shortfall is a $30 million error by the Nebraska Department of Education in its funding formula.
Some residents say local taxpayers shouldn’t be on the hook for a state mistake.
“It was the state’s fault in the formula, so that gave the OPS a deficit right there, but OPS has another problem, and that is, it spends too much money,” Doug Kagan, with Nebraska Taxpayers for Freedom, said at Monday’s board meeting.
Under the proposed budget, the property tax levy could rise from 96 cents per $100 of assessed property value to $1.05. For a home valued at $100,000, that means an increase from $960 to $1,050 — an additional $90 per year.
The district is also projecting long-term budget growth, with spending expected to approach $1 billion by the 2030-31 school year.
The budget will not be finalized until September.
Read the full budget here: https://meeting.sparqdata.com/Documents/WebViewer/120?file=df9b7de1-90b6-4de5-a579-3b5eefa62ed1
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