DENHAM SPRINGS - Use it or lose it.
That's the slogan for millage rates when it comes to rolling forward, which is an allowance for any entity which levies a property tax to increase their rate after a reassessment.
According to Livingston Parish Assessor Jeff Taylor's office, the taxable value for property within the city of Denham Springs is $87,402,290. The rate on that property would be rolled from from 3.478 mills to 3.724.
A mill rate is one-tenth of one percent of the taxable value of property, and the city's current rate generates $276,626.50. The roll-forward would increase that revenue to $296,192.38 - a gain of $19,565.88.
The assessor's office uses a 91% collection rate to project revenues.
The public hearing will be June 24th, 2019 at 6:00 p.m. in the city council chambers. The council will then vote on the measure.