Tuesday, May 5, 2009

Leges look at property taxes

On the same day that Lt. Gov. Mitch Landrieu told the Press Club of Baton Rouge that the state economy is on the brink of disaster because of overly generous tax cuts, a legislative committee began consideration of more tax cuts that could devastate local governments.

As Robert Travis Scott of the Times-Picayune reports here, the House Ways and Means Committee is looking at some 28 plans that would affect property taxes. Since there is no state property tax, these bills would only have an impact on local governments such as school boards.

Gov. Bobby Jindal supports at least some of the property tax cuts, which would increase the homestead exemption for home owners. That puts him at odds with some of his loyal supporters, the big businesses represented by the Louisiana Association of Business and Industry. LABI is concerned that local governments would increase taxes on business if revenue from homeowners falls.

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