Two years into efforts by North Louisiana Interfaith and Together Louisiana to reform the state's largest corporate welfare program, a new study has quantified the fiscal impact of the reforms for Caddo Parish.
The study has found that the reform efforts already are resulting in $11.5 million in additional tax revenue per year going to local public services. The Caddo Parish public school system is the largest beneficiary, receiving $5.2 million in additional revenue, followed by the City of Shreveport which is receiving $2.3 million in new revenue and other taxing bodies receiving $4 million per year.
The increased revenue comes from a major decrease in the amount of corporate property that is held off the tax rolls through tax exemptions, from $1.15 billion in 2017, before the reforms went into effect, to $673 million in 2019.
That $472 million increase in corporate property value is one of the largest two-year increases in parish history, resulting in $11.5 billion in new revenue to local taxing bodies.
A summary of the findings and a breakdown of the new tax revenue by taxing body can be found below:
North Louisiana Interfaith is partnering with the Catholic Diocese of Shreveport for a "Faith in Action" leadership training on October 17th and 18th.
The purpose of the training is to strengthen the ability of Catholic churches to act on their call to do justice in their local communities.
The training is being offered by the Interfaith Education Fund through a grant by the Catholic Campaign for Human Development (CCHD).