Rollback from 115 mills to 112 mills amounts to an overall tax rate cut of 3 percent
Without discussion or public comment, the Jefferson Parish Council voted Wednesday to roll back the parish's millage rate, from 115 mills to 112 mills.
The rollback amounts to an overall tax rate cut of 3 percent, says Tim Palmatier, the parish's finance director.
The tax rate reduction means most residents in unincorporated areas of the parish should see little or no change in the portion of their tax bills for parish services like fire protection, libraries and street lighting, even as property values rise slightly.
Palmatier says the market value of property the parish can tax rose from last year by 3 percent, to $32 billion. That brought assessments to $4 billion.
By law, the parish council must reduce tax rates to a level that keep revenues at the same amount as last year.