In light of what happened this spring and what’s going on in other states, it’s not too soon to talk about Louisiana’s property tax amendments placed in front of voters in fall elections.
Four came as a consequence of the last regular session. Act 274 would add to the homestead exemption for the special assessment level as applied to owners 65 and older up to $30,000, Act 272 would put an exemption in place for rehabilitation of blighted properties, and Act 39 would transfer the special exemption for surviving spouses of veterans one time. These would decrease non-municipal (and including New Orleans) local governments’ property revenues. Potentially raising it, however, is Act 273 which removes a quirk in adjusting millage rates that would allow them to increase within the four-year assessment period after a decrease, so long as the maximum authorized rate isn’t exceeded.
But perhaps the greatest impact would come from Act 220 of 2025, which bumps up the income eligibility level for special assessments (mostly owners 65 and older which freezes their aggregate taxes paid) from $100,000 to $150,000 (which in the case of the Act 274 amendment would add even more leakage). Given the large numbers of unknown such as qualifiers, there is not an estimate of the total cost to local governments, other than it’s assuredly fewer tax dollars rolling in.