NEWS

Financial Impact of Millage Increase for Proposed Infrastructure Plan

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The City of New Orleans has proposed an Infrastructure Plan which would require $2.5 million from Downtown property owners. The DDD Board of Commissioners approved a funding plan for 2020 that would draw from two sources – $1.5 million of new revenue resulting from rolling forward the DDD millage by 2.3 mills and $1 million from the DDD capital improvement fund. The Board decided to use $1 million of existing funds in 2020 in recognition of and to mitigate the substantial increase in its stakeholder’s property taxes after this year’s reassessment. Below is the estimated tax increase for Downtown property owners.


*Taxable Assessment is available on the Orleans Parish Assessor’s website at www.nolaassessor.com

 

 

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