New Orleans : State Data and Comparisons : Data-Z

New Orleans, LA

TIA Data

2023 Financial State of New Orleans (Released 02/27/2024)

Use Create Your Own City Chart to see additional financial, demographic and economic data for this and other cities

New Orleans owes more than it owns.

New Orleans has a -$18,300 Taxpayer Burden.™

New Orleans is a Sinkhole City without enough assets to cover its debt.

Decisions by elected officials have created a Taxpayer Burden™, which is each taxpayer's share of city bills after its available assets have been tapped.

TIA's Taxpayer Burden™ measurement incorporates all assets and liabilities, including retirement obligations.

New Orleans only has $1.5 billion of assets available to pay bills totaling $3.5 billion.

Because New Orleans doesn't have enough money to pay its bills, it has a -$2.1 billion financial hole. To erase this shortfall, each New Orleans taxpayer would have to send -$18,300 to the city.

New Orleans's reported net position is inflated by $253.1 million, largely because the city defers recognizing losses incurred when retirement liabilities increase.

The city's financial report was released 183 days after its fiscal year end, which is considered untimely according to the 180 day standard.