Assessor Todd Dugas reports that total property values in St. Martin Parish went down slightly this fiscal year for the first time in years.
Dugas gave his annual assessment report at the Oct. 3 parish council meeting. He said that, in what was close to a “flat” year for property values, taxable values were assessed at $383,456,179. That is a decrease of about $6 million, just less than 1.7 percent, from last year.
The assessor said most of the decrease occurred in the parish’s industrial park valuations. There was also a marked decrease in some auto dealer stock inventories. He has called for an audit to verify some of those inventory numbers.
When asked what proportion of homeowners in the parish pay no property taxes due to the homestead exemption, Dugas responded that about 25 to 30 percent fall below the $75,000 valuation. All homeowners pay only on the value above that level for properties that qualify for the exemption.
Residential property taxes are not, Dugas said, the greatest source of tax receipts. Most come from commercial assessments. Parish President Guy Cormier commented that the administration is seeking ways to increase business development, particularly in the U.S. 90 and I-10 business corridors.
The largest taxpayer in the parish is the oil and gas service company Baker-Hughes, followed by electric power provider SLEMCO.