City of Bossier City bucks the higher taxes trend: Rolls back property tax rates
"No tax increase in 2024," the City said.
City of Bossier City bucks the higher taxes trend: Rolls back property tax rates
The City of Bossier City made a surprise announcement Tuesday afternoon: "No tax increase for 2024."
The City is bucking the raise taxes trend indicated by four local taxing authorities who say they will roll forward their tax rates: The Bossier Parish School Board, Benton Fire District #4, the Bossier Parish Police Jury and Bossier Parish Sheriff Julian Whittington.
A recent reassessment by the Bossier Parish Tax Assessor's Office raised property taxes for all homeowners in Bossier Parish due to higher values.
Local taxing authorities can either increase or decrease a millage due to the change in the tax base. A "roll back" of a millage lowers the tax rate to compensate for the increased valuation — meaning property owners pay the same amount of taxes.
"Rolling forward" a millage allows the taxing authority to gain the additional revenue from the reassessment, in effect a tax hike.
The taxing authority must approve a roll forward with a supermajority vote of its voting members. No voter approval is required. For a political subdivision headed by a single local elected official, such as a sheriff, the decision is made solely by that official.
Bossier City decided to "roll back" the rate, meaning the City's revenues will not change.
Overall, the 2023 rate was 22.58 mils. For 2024, it will be 21.3 mils.
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