As Omaha grapples with a multi-million dollar budget shortfall, one man continues to push his idea for increasing revenues by targeting under-assessed properties. He's taken it to the county assessor and to the city council.

Peter Manhart believes that bumping up home values of the rich will help the city avoid layoffs and further cuts to programs.

The Realtor went before the city council last week after waiting 3-and-a-half hours for his turn at the microphone. "I started to notice that after looking at some of these addresses, some prominent members of our society - their property tax valuations are virtually ignored."

Last year, his mother's home valuation at 52nd and Dodge had skyrocketed 69% -- from $178,000 to $278,000.

He fought it and got it reduced. His research of the surrounding neighborhoods revealed more questions.

"Why are certain people seeing huge increases while others are not," says Manhart.

We took his questions to Douglas County Assessor Roger Morrissey.

Reporter: "Do rich guys have it easy?"
Roger Morrissey: "We look at individual neighborhoods, not individual properties. When we change values we go on a neighborhood by neighborhood basis."

Peter Manhart gives 200 examples of what he calls under-assessed homes from Mayor Suttle's to Hal Daub's.

Roger Morrissey says the valuations are fair. "Buyer's set the market with their checkbook and we can't go in and make up a number if there are no sales. Realtors are telling me the high-end properties aren't selling."

By state law -- homes are supposed to be assessed between 92-100%of what they would sell for. Nebraska gives Douglas County a good grade with its 96% ranking.

"Is the 4% the more affluent?" ask Manhart.

The assessor's office has had a copy of Manhart's list for months. We're told there has been a handful of changes when it comes to under-assessed valuations. Manhart is pleased by that but believe there's more work to do.

The assessor's office points out that this is a handpicked list of 200-properties in the more elite neighborhoods in Omaha -- and that their numbers are based on 157,000 single family properties.