Baton Rouge’s library system makes millions more each year — so why do officials want to raise taxes?
“Amid the debate over whether the East Baton Rouge Parish library system should raise taxes, here’s something to keep in mind: The library has been collecting millions of additional dollars most years, even without a tax hike. Though the tax rate for property owners has actually gone down over the past nine years, revenue generated by the library tax has soared. When the current tax, approved at 11.1 mills, went into effect in 2006, the system had $26.02 million in tax revenue. Thanks to millage adjustments after reassessments, the millage rate is now 10.78 mills, but the library system will earn $40.83 million from the tax in 2015 — a 57 percent increase, due to an increase in property values and new developments. Adjusted for inflation, $26.02 million in today’s dollars is $30.54 million, a little more than $10 million less than what the system is actually collecting.” (via NOLA)