As a report came out that New Orleans property values would increase meaning higher tax bills, and for some, as much as a one thousand dollar tax hike, the question is how do other cities handle this.
Real estate analyst Arthur Sterbcow says other cities just like New Orleans, are allowed to charge a certain millage rate that was approved by voters
"But you'll also find that because more income does come in, some people's tax bills will actually go down because more revenue's been collected," he said. "It's like a see-saw."
Sterbcow says because of a higher windfall, taxing authorities are allowed to roll back the millage rate.
His advice for property owners... "They need to get on their taxing authority bodies and let them know their feelings, that the millage rates need to be rolled back," Sterbcow added.
He says some people who are under assessed for many years, there is no question their tax bills are going to go up.