The 10-1 vote met with opposition by John Lamarque, with Jody Palmer, Daniel Zechenelly, Carmen Johnson and Ron Bettencourtt absent.
The millage rate for the School Board will be reduced from 55.97 to 47.55 mills, based on a property assessment in the parish of approximately $1.3 billion and resulting in collecting the same amount of money as last year, or revenue neutrality.
 Covington High School'€™s marching band performs at the grand opening ceremony for Belk'€™s new refinished department store at the Stirling Covington Shopping Center. (Staff Photo by Matthew Penix) |
Brett Stoltz, director of Business Affairs, said the goal of the School Board is revenue neutrality, and they will be monitoring appeals and looking at returns during the year to see if an adjustment will be needed in the future.
The largest single benefactor of ad valorum, or property tax, the School Board’s decision ensures that at least 32.9 percent of the parish millage should not change in dollar value from last year’s payment.
Stoltz said the $58 million net the property tax brings into the general fund represents about 20 percent of the general fund budget. Sales tax, which generates about $83 million, represents about 25 percent of the general fund budget. Other revenue sources include federal and state money.
Properties that are exempt from the property tax include public buildings, schools, government offices and churches.
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