LPS approves $539 million budget and property tax hike

LINCOLN, Neb. (KLKN) — The Lincoln Public Schools board approved the district’s budget on Tuesday night.

The board voted 5-1 for both the $539 million budget and a property tax increase to pay for it. Lanny Boswell cast the sole no votes.

SEE ALSO: Property taxes for Lincoln Airport will nearly double after council OKs budget

The budget, which is 5% larger than last year’s, includes about $18.6 million for pay and benefit increases.

“If we don’t continue to pay for the best-quality education we can possibly do, we are impacting our future,” board member Annie Mumgaard said.

SEE ALSO: LPS proposes $25 million spending increase in 2024-25 budget

The district’s total property tax levy will increase by about 3.9 cents per $100 of valuation.

The owner of a $278,000 house, the average home price in Lincoln, will pay about $108 more a year.