New Orleans voters say yes to half-billion in cap improvements bonds, no to 3 mill tax

Chris Miller
November 16, 2019 - 10:48 pm
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New Orleans voters approved a parish-wide proposition to use $500 million in bonds for capital improvements, and said yes to a 6.75 percent tax on short-term rentals like Air BnB. But voters also said no to a 20 year, 3 mill property tax increase for roads and drainage.

The half-billion in borrowing is also set to be spent on roads, streets, and bridges, subsurface drainage, and storm water management. But beyond that type of infrastructure, the bonds will also be put toward affordable housing, city buildings, libraries, parks, and more.

The mills became a hard sell after property tax assessments came in showing an average increase in property values of 18 percent since the last round of assessments four years ago. The $500 in bonds, on the other hand, will be paid off with existing property taxes.

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