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Why is property taxed?

April 26, 2017Property TAXED

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Why is property taxed?

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Lafayette Parish property taxes provide the funds our local governments need to provide essential services – like educating our children, protecting us from crime and preventing flooding. Without property taxes, many of the services provided by local government would not be available. The assessor has very little to do with the amount of taxes you pay. The assessor’s primary responsibility is to find the fair market value of your property. Then the taxing authorities (city-parish, school board, and others) decide your tax rate, depending on what is needed to provide all the services you enjoy. The amount of taxes you pay is determined by this tax rate applied to your property’s assessed value.