city government
Viewpoint: Property taxes may rise in 2024 for many New Orleans homeowners
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New Orleans property owners in select neighborhoods — including Uptown areas — should anticipate paying higher taxes due in 2024 due to the increased valuation of properties in those areas, according to longtime Orleans Parish Assessor Erroll Williams. Williams and his staff of in-house appraisers have spent the past year reviewing every parcel of commercial and residential property on the parish tax rolls.
Louisiana law requires a re-evaluation on all properties once every four years. Because 2024 is a quadrennial year, Orleans Parish assessments for tax years 2024-27 will reflect market values as of Jan. 1, 2023. A similar review took place in 2019.
State law now requires all tax recipient agencies to reduce their millage rates when a quadrennial revaluation results in an increase in taxable assessments, as is the case this year, according to an Assessor’s Office press release. This is referred to as a “mandatory rollback.” The intent of the rollback is to keep funding streams level for tax recipient agencies.