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LA HB271
Bill
Status
4/2/2025
Primary Sponsor
Matthew Willard
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AI Summary
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Authorizes parish governing authorities to increase the homestead exemption by up to an additional $5,000 of assessed value, raising the maximum potential exemption from $7,500 to $12,500 (equivalent to $125,000 fair market value)
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Current law exempts the first $7,500 of assessed valuation ($75,000 fair market value) from state, parish, and special ad valorem taxes for owner-occupied homesteads
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Requires approval by the parish governing authority for any increase to take effect in that parish; the increase is permissive, not mandatory
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Scheduled for voter approval at the November 3, 2026 statewide election as a constitutional amendment requiring two-thirds legislative approval
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Effective January 1, 2027, applicable to property taxes beginning in tax year 2027
Legislative Description
(Constitutional Amendment) Authorizes a parish governing authority to increase the amount of the homestead exemption (RE SEE FISC NOTE LF RV See Note)
TAX EXEMPTIONS/HOMESTEAD
Last Action
Read third time by title, amended, roll called on final passage, yeas 42, nays 58. The bill, not having received two-thirds vote of the elected members, failed to pass.
5/19/2025