New Orleans gives up $316 million annually due to tax breaks for select groups, one public policy watchdog said in a report that comes as City Hall is moving forward with tax increases to shore up its budget.
Those property tax breaks – offered to developers, nonprofits, government agencies or people holding homestead exemptions – cover roughly 37% of the city’s assessed property value, the Bureau of Governmental Research said.
The group’s report, issued this week, calls for a tighter focus on what the city is getting in return. It also wants a “fair, transparent and accountable” fee on tax-exempt property to broaden the cost burden for the city’s drainage system, which is funded solely through three property millages…