LA HB514

Proposes constitutional amendment adding Article VII, Section 21(P) to authorize parishes and municipalities to provide additional property tax exemptions for homeowners aged 65+ who qualify for the special assessment level

Exemption amounts increase with age: $6,000 assessed value ($60,000 market value) for ages 65-68; $12,000 for ages 69-72; $18,000 for ages 73-76; $24,000 for ages 77-80; $30,000 ($300,000 market value) for ages 81+

Surviving spouses may continue receiving the exemption if they remain owner/occupant and are not more than five years younger than the deceased owner; property held in trust is also eligible

Taxing authorities must absorb any revenue decrease from exemptions without shifting tax burden to other taxpayers through reappraisals or millage adjustments

Requires approval by local voters before implementation in any parish or municipality; amendment goes to statewide ballot November 3, 2026, with effective date of January 1, 2028