Posted: Aug 9, 2012 7:36 AM
Updated: Aug 9, 2012 7:36 AM
Source: Associated Press
PORT ALLEN - The Port Allen City Council has approved slight adjustments to two of the city's millage rates in response to declining property values.
The council unanimously adopted a resolution setting the millage rate for its general fund at 7.67 mills and 5.48 mills for tax revenue allocated to the police department for the 2012 tax year.
The millage rates were 7.37 and 5.27, respectively, prior to the council's vote Wednesday night.
Chief Financial Officer Audrey McCain says the new rates will generate approximately $19,000 in additional revenue during the 2012 tax year.
McCain told council members that the adjustments were necessary to enable city revenues to "break even."