Tuesday, October 30, 2007

Meanwhile...

Nagin's budget proposal includes... surprise!... a property tax millage "roll forward"

Nagin told the city's Revenue Estimating Conference that he wants to retain two of the mills the city otherwise would give up when it "rolls back" its 2008 millage rate about 27 percent below this year's rate because of the recent sharp increase in assessments.

Because of a citywide reassessment, the city, by law, must roll back its millage to the point where it would produce no more revenue next year than the higher millage did this year. But the City Council then can vote to roll forward, or increase, the millage enough to recapture some or all of the revenue lost because of the rollback.

Saying it is important not to give residents any additional financial burdens at a time when many are still rebuilding and others are deciding whether to return to the city, the council has repeatedly declared its intention not to roll forward millage rates at all, "wherever it is legally permissible to do so without impairing public health and safety and the effective provision of vital city services."

Nagin said he was not sure how the council will react to his proposal to raise the millage by two mills. He said the money from the extra millage would be used for specific projects, but he refused to identify them.

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