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Caddo taxpayers to get a small tax break, AAA rating is to thank - KTBS.com - Shreveport, LA News, Weather and Sports

Caddo taxpayers to get a small tax break, AAA rating is to thank

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SHREVEPORT, La. -
Earlier this year Caddo Parish was awarded an AAA credit rating on general bonds from Standards and Poor's---that's above the federal government and the first for a government body in Louisiana. Officials decided to refinance a bond dept work nearly $7,000,000. It benefits the taxpayers. The AAA credit rating allowed interest on those bonds to fall.
 
"Those are direct savings to the taxpayers," Grant Shlueter, the parish's bond attorney, said.

Shlueter says the interest was at nearly six percent and fell to just over two percent. It doesn't equal to large savings to each taxpayer. However, more than $451,000 will be saved overall.

"Taxes will go down faster than they otherwise would. this is directly $450,000 that taxpayers would not pay," Shlueter said.Shlueter
says obtaining the AAA rating has been a goal of the parish for years.

"So, it's been a long process. A lot of work," Shlueter said. "A lot of folks in the community came together from all segments."

The parish's responsible financing with your tax dollars really led to the rating.

"One of the key factors they look at are the financial operations of the Caddo Commission, which they were very happy with, and that's put them over the top," Shlueter said.

The Caddo Commission announced the savings during their Thursday meeting.
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