Taxable properties nearly a quarter billion

ST. MARTINVILLE – The taxable value of property in St. Martin Parish, is approaching a quarter of a billion dollars, Assessor Lawrence Patin told the Parish Council in passing Tuesday.
The council, in a special meeting Sept. 30, upheld Patin’s assessment of CDM Resource Management, a natural gas compressor company, which is contesting the assessor’s figures for equipment in lower St. Martin Parish.
As an aside, Patin noted that total assessed values in the parish amount to $293,192,497. Less $79,878,873 in homestead exemptions, that leaves taxable values in the parish at $213,313,624.
CDM, the only taxpayer to question the recent reassessment, did not appear before the council to argue its position.
The next step for the company is to appeal to the Louisiana Tax Commission.
Patin told the council members, acting as a board of review, that LTC set up the guidelines by which he assessed the value of the company’s gas compressors.
Parish assessors are mandated by law to set new values on taxable properties every four years.