City Issues Property Tax Reminder
NEW ORLEANS – (RealEstateRama) — The City of New Orleans issued an important property tax reminder. At the end of April, residents will receive a supplemental property tax bill with payment due May 31, 2017. On December 10, 2016, New Orleans voters approved a new property tax millage for fire protection and renewed a tax dedicated to drainage projects.
The fire millage will continue through December 31, 2028, and will yield an estimated $8.9 million per year. This will ensure our firefighters are payed what they are owed. It is estimated that property tax bills will rise by just $25 for every $100,000 of a home’s value.
The drainage millage is a property tax renewal and will stay in effect through December 31, 2046. This will provide the necessary funding needed to maintain the Sewerage & Water Board’s drainage system, and the construction and extension of its operating system, the second largest in the world. These continued improvements have contributed to 97 percent of the City’s homeowners receiving reduced flood insurance premiums.
A homeowner with a residential property worth $350,000 who qualifies for homestead exemption has previously paid approximately $128 a year under the current property tax rate, but will now pay approximately $122 under the new property rate.
For questions about property tax payments, please call the Bureau of the Treasury at (888) 387-8027.