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Council keeps ad valorem rate unchanged after assessor reports $70M drop in value
Summary
At a public hearing on the annual ad valorem tax ordinance, staff reported an estimated $70,000,000 decrease in assessed value (about 3%)—largely due to inventory declines—leading the parish president to recommend holding the tax rate steady; the ordinance was opened and approved for adoption.
Finance staff presented the annual ad valorem tax ordinance and described a decline in assessed values this cycle. The assessor—s presentation showed an approximate $70 million decrease in assessed value, largely from a fall in inventory valuation, producing an overall assessed-value decline of roughly 3 percent.
"It's about $70,000,000 decrease," said the presenting official, and Parish President Jewell told the council the administration would hold the tax rate at the same level as last year, meaning residents would see no rate increase. A brief public comment period included remarks about the potential economic causes of the decline; no speakers asked for changes to the ordinance. The public hearing closed with no speakers and the ordinance was opened for adoption and approved as required by Section 23 of Article VII of the Louisiana Constitution and La. R.S. 47:1705(B).
Council voted to advance the ordinance for adoption at the scheduled public hearing date.
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