The gist: Property tax rates for the airport commission and the library system would be increased to voter-approved ceilings if the council passes a pair of ordinances introduced this week.
A quick explainer. As property value increases, property tax rates are decreased, or “rolled back,” to balance total parish tax revenue. However, the City-Parish Council can vote to increase millages — “roll forward” — up to the ceiling set by voters when the tax was passed, thus raising revenue.
The library wants to roll forward one of its two dedicated taxes to 2.00 mills. That’s a 0.16-mill increase expected to generate $360,000 in operational revenue. The system is adding a new library on Lafayette’s Northside. The system’s revenues will decline $3.4 million next year when one of its three millages falls off the tax roll.
The airport wants to roll forward its dedicated tax to a 1.71 maximum. That’s a 0.13-mill increase also expected to generate roughly $360,000.
Below, you can calculate the increases to your tax bill as result of either roll-forward. You’ll need to know the market value of your property, which you can find here.
Final adoption of these ordinances will be voted on September 17.