Posted: Mar 12, 2013 5:52 PM by Adrian Pittman
Updated: Mar 12, 2013 5:52 PM
BAYOU CORNE- People in Bayou Corne say they fear more than a massive sinkhole, that forced hundred of people to evacuate.
Since it formed last year, the property value in the mandatory evacuation area plunged.
Last year, the Assumption Parish Tax Assessor's Office, gave residents living in the mandatory evacuation zone the option to cut their property tax by half.
This year the assessor's office is going something similar, but this time there's a plan in the works to reduce the property tax by 90 percent.
Residents say they are now stuck with worthless property.
"It makes me feel like my property right now is not probably worth a whole lot. Who will come here and buy anything at this point," said Bayou Corne resident, Dennis Landry.
Governor Bobby Jindal will meet with representatives of Texas Brine, the company that owns the salt cavern believed responsible for the sinkhole.
They are expected to discuss buying out residents put out by the sinkhole.