LINCOLN, Neb. (KOLN) — Lancaster County’s proposed budget this year calls for a decrease in the county’s levy, even as property taxes are set to grow.
A levy is the rate at which the government collects taxes. The assessed value of a home is multiplied by the levy to determine what a homeowner pays.
Because of this, property taxes can increase even when a levy decreases, if assessed values rise enough to offset the lower rate…