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Message
Can anyone explain the proposed LA Constitutional Amendment #5?
Posted on 10/24/22 at 4:06 pm
Posted on 10/24/22 at 4:06 pm
I have read the PAR guide three times trying to wrap my head around this and don't have a good grasp. Can anyone explain this to me like I am five? I am disappointed in myself and my two degrees 
PAR Louisiana Guide
quote:
Local Authority Over Property Tax Rates
quote:
A VOTE FOR WOULD Give local taxing bodies more time to decide if they want to “roll forward” millages that increase property taxes paid by businesses and homeowners.
quote:
A VOTE AGAINST WOULD Keep the rules governing millage “roll forwards” the same, giving local taxing bodies until the next property reappraisals to make the decision.
PAR Louisiana Guide
3
Posted on 10/24/22 at 4:11 pm to Drunken Crawfish
Sounds like “pay up whitey” to me
Posted on 10/24/22 at 4:19 pm to Drunken Crawfish
When there's a new tax, increase in tax, or a new assessment that greatly increases taxed property values, local authorities often promise to roll back the millage rate so your tax hit is not quite so high. By voting for this you will give them more time to decide if there will be a roll back, by which time they hope you've forgotten about their promises and they can do nothing.
Posted on 10/24/22 at 5:46 pm to vistajay
So, should this be a “no”? Planning on just voting NO on all of them.
Posted on 10/24/22 at 6:17 pm to TigerAlum1982
quote:
So, should this be a “no”? Planning on just voting NO on all of them.
They aren't all NO votes.
quote:
Amendment 1
“Do you support an amendment to increase to 65% the cap on the
amount of monies in certain state funds that may be invested in stocks?”
That's a YES. It's spend the money on stupid stuff like hair picks or invest it for more passive income for the state.
Posted on 10/24/22 at 8:24 pm to tenderfoot tigah
quote:
invest it for more passive income for the state.
Why does the state need to collect excess money to invest for income???????
Posted on 10/24/22 at 8:45 pm to tenderfoot tigah
quote:
That's a YES. It's spend the money on stupid stuff like hair picks or invest it for more passive income for the state.
Yeah no
This amendment means they can invest more in sticks and less in bonds / more stable investments.
Has nothing to with reducing spending.
Posted on 10/24/22 at 8:54 pm to Drunken Crawfish
When reappraisal would result in more money coming in, the tax rates are automatically rolled back so your tax bill won’t increase.
However the taxing body can vote to roll forward the rate back yo the original rate which would result in additional tax money.
However the taxing body can vote to roll forward the rate back yo the original rate which would result in additional tax money.
Posted on 10/24/22 at 9:17 pm to LSUFanHouston
It’s ridiculous we even have to vote on stuff like that. It’s what we elect people to do
This post was edited on 10/24/22 at 9:37 pm
Posted on 10/25/22 at 1:44 pm to TigerVizz87
quote:
It’s ridiculous we even have to vote on stuff like that. It’s what we elect people to do
Not only do we have to vote for it... but it's part of our state constitution.
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