Isaac Causes Property Tax Decline in Louisiana Parish

Damages from Hurricane Isaac will cost St. John the Baptist Parish about $2 million in property tax revenue.

The Times-Picayune reports Assessor Whitney Joseph Jr. told the parish council the value of the parish’s tax roll will drop by approximately $14 million from previous estimates.

However, because of expiring industrial tax exemptions, parish taxing bodies will still net about $6 million more than in 2011, Joseph said.

The parish’s $370 million tax roll in 2011 was expected to increase in value this year by $62 million as the tax exemptions expired. But the lower values of storm-damaged property are expected to limit the increase to $45 million.

Joseph told the council that he would reduce the assessed value of uninhabitable homes to zero this year.

“It’s going to be a one-shot deal,” he said.

Parish officials estimate that about 7,000 homes in St. John the Baptist Parish flooded during Hurricane Isaac.

The storm struck the Gulf Coast on Aug. 29 and hovered over southeast Louisiana for several days, pushing water into communities in St. John, Plaquemines and St. Tammany parishes.

Joseph said owners of rental properties and businesses that suffered flood damage should contact his office to discuss property valuations.