Monday, April 18, 2005

Tax break talk...

We are about to buy a house, and sell the one we have. These actions will trigger reappraisals that will mean a higher property tax bill for us and the buyers of our current house. So you would think we would celebrate news about catching a break on property taxes and, if so, less to have to contribute to the Orleans Parish School Board.

We’ll talk about that some more on another day. For now let’s see what AP has to say on the issue, by way of the KATV3 website:

Tax breaks for homeowners are a hot item in the Capitol this year.

Several bills filed for the upcoming legislative session would take the property tax break enjoyed by elderly people who earn less than 56-thousand dollars a year and extend it to all elderly people, even rich ones. Others aim to extend the break to disabled people. One measure aims to limit increases in homes' assessment values. Others would simply limit the amount property taxes can be increased.

They sound good to many taxpayers, but parish and city government bodies are expected to try to block bills that would hack away at the amount of tax money they receive.

Members of the Legislature appear split on whether a cap should be imposed on increases in homeowners' property taxes.

In an Associated Press survey, 32 percent of the House members who responded to the survey said they would support a cap. An equal percentage said they were opposed to the idea and 35 percent were undecided.

Twenty-seven percent of the Senate members who responded said they were opposed, 48 percent were in support and 24 percent undecided.

Nearly all the bills were filed by lawmakers from New Orleans and its suburbs, where many homeowners have faced big property tax hikes over the past year. News media investigations and a report by the state legislative auditor have also shown that assessors in some parishes have valued similar properties at widely different amounts, often because home valuations have not been updated.


jbv's Competitive Edge 


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