Authorizes an optional property tax exemption for rehabilitated blighted or derelict properties in Louisiana.
Louisiana HB217 provides for an optional ad valorem tax exemption for rehabilitated blighted or derelict properties. Parishes can implement the exemption, applying it to all millages within the parish. The exemption allows up to 75% of the assessed value of residential property to be exempted for up to 20 years, and up to 25% of the assessed value of unimproved land for up to 10 years. Parishes must establish processes for applying, approving, and revoking the exemption, along with rehabilitation standards. The exemption is effective for tax years beginning on or after January 1, 2027.
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- Legal Framework
- Critical Issues
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