General property taxes are expected to continue the modest growth experienced in the last six years. The 2018 Budget has been proposed with an estimated 1.5% decrease as recommended by the Parish Assessor. The total collections are estimated to be $45.2 million.
Property is reassessed every four years, with 2016 the most recent year of the regular reassessment. Property subject to taxation is assessed as a percentage of its fair market value. Residential properties and all land are assessed at 10%, other property and electric cooperative properties, excluding land, are assessed at 15%, and public service properties, excluding land, are assessed at 25% of fair market value. The assessor completes the current year tax roll after the budget is submitted to the Council for approval with adjustments other than nominal made during the year.
Below is a comparison of the 2016 and 2017 levied millages and the estimated 2018 tax revenue. The “Maximum Authorized” reflects the taxing jurisdiction’s “Adjusted Millage” or “Roll-Forward Millage” adopted in 2016 Reappraisal; or the rate approved by the voters.
