Lafayette

Jul 10, 2012 6:56 AM by AP

Property values increase in Lafayette Parish

LAFAYETTE, La. (AP) - Several public agencies in Lafayette Parish have scheduled hearings next month on whether to keep property taxes at their current levels to bring in more revenue.

The Advocate reports property values are estimated to be up with this year's reassessment, and public agencies are required to reduce tax rates so that tax revenue stays at the same level it was before the higher reassessment.

But public bodies can also act to raise the tax rates back to the old level, which can bring in more revenue because the old tax rate is applied to higher property values.

Lafayette Parish Assessor Conrad Comeaux says property values in the parish have gone up an average of 2 ½ percent in this year's reassessment.

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