New Orleans Property Taxes
After a 5% increase in New Orleans property taxes was approved by the New Orleans City Council last month, they’ve decided that it’s just not quite enough to cover the city budget. So, they’ve gone back and added an additional 1/2 percent to it.
For a $100,000 home, the increase will be approximately $28 per year…not a huge sum, but an increase nonetheless. While New Orleans still doesn’t have the highest property taxes in the metro area, this increase (along with a doubled sanitation bill) is another factor in where people moving to our region will decide to buy a home.
I’m hopeful that the planned reassessment of properties in 2011 will result in a more equitable distribution of taxes across all home owners since we know that, historically, many homes and commercial properties have been drastically under assessed.
What’s your take on this? Will increasing taxes make you rethink a home purchase in Orleans Parish or are they low enough to not matter?