City of New Orleans Property Tax Rate Set For 2021

(Getty Images)

The property tax rate in the city is set to dip by a small amount next year.

City leaders say the tax will decrease three mills because it will not have to pay as much to cover the costs of the city's debt in the coming year.

The Board of Liquidation approved the lower rate unanimously at a meeting earlier this month.

The reduction comes as the city continues to pay off a significant amount of old debt.

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