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Thank you to everyone who wrote to Governor Edwards, on behalf of the Parish, concerning the Louisiana Tax Commission (LTC) and its allocation of value to other parishes. As you have likely heard, the LTC announced last week that they will no longer allocate Riverbend value to other parishes. The result is that West Feliciana will receive the full amount of tax revenue that we should have for the last twenty years.
Lots of folks have helped in this process and I hesitate to single out any individual. However, Ken Carter of The Bluffs served our Parish and the Governor as an intermediary throughout the process and I believe he deserves thanks from all of us.
With the intervention of Governor Edwards, the LTC has agreed to change the allocation. The result is that we will receive approximately $6.6 million in additional revenue per year.
I hope everyone will understand that this additional revenue is based on our current millage rates and that, for example, the School system will only get their current and additional revenues if their existing millage rate is renewed by the voters in the upcoming election.
Some folks have asked me how we will determine how to spend this money. The answer is that the people have already decided that when they voted on the millage for each area of government. The following two charts illustrate the allocation of the additional tax to be collected, using the millage rate in place.
The chart (left) uses an estimate of the new funds to be collected.
The amount of additional funds that flow to Parish operations and how these are to be used is also set by prior elections. The results are detailed in the following chart (right).
As I mentioned in my last letter, there are two distinct issues regarding the public service company valuations. What remains is the issue of the proper valuation of all public service properties and the need for greater transparency at the LTC.
Many other parishes supported our efforts on allocation even though the decision will cost some of them tax collections. It is my feeling that we are obligated to support the efforts to change the valuation process and make it more aligned with the way this process is done in almost every other state.
Please send the Governor a brief note thanking him for his support of West Feliciana. You might also ask Governor Edwards to require transparency in the LTC's operations, perform a rate study and publish the capitalization rates used to value public service properties throughout the state.
Governor John Bel Edwards
P.O. Box 94004
Baton Rouge, LA 70804-9004
c/o Toye Taylor, Deputy Chief of Staff