IBERIA PARISH

2005 FACT SHEET

STATE OF LOUISIANA

     Population:        4,438,000                             

 Square Miles:             48,523

IBERIA PARISH 

     Population:                                        74,388

     Square Miles:                                     575

     Acreage:                                             256,762

     Residential Improvements:                26,099    

     Commercial Improvements:               2,786

     Gas Wells:                                          200

     Oil Wells:                                           332

     # of Taxpayers                                   23,759

     Value 10 yr exempt                           $14,212,863

     Value Other Exempt                         $32,348,035

     Homestead Exempt Value                 $94,129,220

RICKEY J. HUVAL, SR CLA

300 IBERIA ST , STE B 100

NEW IBERIA , LA 70560

ASSESSMENT INFORMATION

The Assessor is required to locate, list, classify, value, and assess all property in Iberia Parish for ad valorem taxation according to the Constitution of Louisiana and the laws of the state.  Ad valorem means “according to value”: - thus the amount of tax is based on the value of the property and not the ability to pay.  This property includes all REAL (land and buildings) and PERSONAL (business movables).

The Assessor also tracts ownership changes; maintains maps of parcel boundaries; and maintains the legal description of each property parcel.  All culminate annually, with the filing of the Tax Roll, a major source of revenue for law enforcement, education, fire protection, roads and drainage.

The Parish Tax Collector is the Sheriff and all ad valorem taxes for the Parish are due by December 31 of current year.

City of New Iberia , Jeanerette, Loreauville & Delcambre send tax bills and collect taxes based on the assessments and millage rates for that particular municipality or village.

The Goal of the Assessor’s office is to ensure that property is assessed fairly and equitably, and that is our pledge.

PROPERTY TAX TERMS:

REAL PROPERTY – Consists of the tangible land, buildings, and other improvements attached to the land.

PERSONAL PROPERTY – All property not defined as real property (machinery and equipment, furniture and fixtures, inventory, airplanes and oil & gas properties)

PUBLIC SERVICE – Utilities, railways, pipelines, communications.

ASSESSED VALUE RATIO- Land 10%, Residential Improvements 10%, Commercial Improvements 15% and Public Service 25%

TAX RATE – A levy per each one thousand dollars of assessed value, expressed in dollars and cents, and made     by each of the local government bodies or agencies to support Parish, City, School and Special Services.  Tax rates vary from one district to another according to the tax base, the needs and demands of the people.

MILLAGE RATE – Millage is the percentage of value that is used in calculating taxes.  A mill is defined as 1/10 of 1 percent and is multiplied by the assessed value after any exemptions have been subtracted to calculate the taxes.  For example: if the tax rate is 70.93 mills and total assessed value is $10,000 with no exemptions, the taxes would be calculated as $10,000 x .07093 = $709.30 in taxes. If for the same house you had a homestead exemption the taxes would be: $10,000- $7,500 (HS)=$2,500.00 x .07093 = $177.33 in taxes.  This demonstrates the importance of filing a homestead exemption.