Current Legislation

The Louisiana Tax Commission has proposed some major changes in their interpretation of properties that qualify for the homestead exemption and for land use-value assessment. These changes are based on opinions of the Louisiana Legislative Auditor after completing a performance audit of the Louisiana Tax Commission.

These changes will be effective for the 2004 assessment year unless legislative changes are enacted to clarify or change the current interpretations by the Tax Commission. The Louisiana Assessors' Association will introduce corrective legislation in the 2004 legislative session. Many property owners could face higher property taxes without passage of corrective legislation.

Areas in question are:

1. Homestead exemption for joint owners who are not married.

2. Homestead exemption for property purchased using a Bond for Deed instrument.

3. Homestead exemption for properties transferred into certain types of trusts.

4. Homestead exemption for properties put in the children's name even though the parents retain the right to use the property until death of both parents.

5. Homestead exemption on property purchased after January 1 of the current assessment year. Homeowner would have to wait one year before being eligible for homestead exemption.

6. Land use-value assessment would not be allowed for land that sells for more than $1,600 per acre in some cases.