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: