If you live in Lafayette Parish, you’ve gotten your Notice of Value in the mail. And you’ve probably wondered, “How much are my taxes going up?”

You aren’t alone. Lafayette Parish Tax Assessor Conrad Comeaux joined KPEL’s Rob Kirkpatrick and Bernadette Lee on “Acadiana’s Morning News” to discuss the notices sent out and what they mean to you.

The reassessment is done every four years – 2016, then 2020, and so forth. The 2016 version is based on sales around January 1, 2015. With the recent flooding, though, homes that took on water damage inside will need to send their FEMA claim number, along with other pertinent information, to Comeaux’s office so they can re-assess that property.

In his discussion, Comeaux addressed why the value of so many homes here increased, which means higher property taxes for those home owners. He mentioned how there wasn’t much change during the 2012 reassessment because the 2011 sales had to factor in the 2010 BP oil spill, which caused a downturn in the economy at that time. So, in essence, the reassessment is similar to doing it over an 8-year period as opposed to a 4-year period.

Comeaux also addressed how the property was undervalued in the past, which explains why the value of your property is going up, in addition to whether you live near any new developments.

Listen to the interview below: