The Omaha City Council is scheduled to vote Tuesday on a tax increment financing district in the area surrounding TD Ameritrade’s new headquarters.
The headquarters is in Omaha’s Old Mill area, south of 114th and Dodge Streets. TD Ameritrade officials say the TIF is needed for five-million dollars worth of infrastructure improvements. City Councilmen previously declared the area blighted.
Douglas County Commissioners oppose the TIF district, saying the revenue will only benefit the city of Omaha.
An economic analysis group says Nebraska lawmakers need to explore changes to the state’s tax policy.
The Open Sky Policy Institute released a report Thursday morning on Nebraska’s budget and tax policy. Executive Director Renee Fry says state government needs to look at reforming the tax code, as well as expanding what goods and services are taxed.
A half-cent increase in Omaha’s sales tax could generate $45 million for the city.
Nebraska lawmakers last week overrode Governor Dave Heineman’s veto of legislation allowing cities to raise their sales tax rate. Doing so would require supermajority approval from both the city council and voters.
Omaha’s current sales tax rate is 7 percent, with 1.5 percent of it local. Mayor Jim Suttle says there are no plans to put the sales tax initiative on the November general election ballot.