Louisiana HB300 raises the appraisal threshold for bank-owned residential property from $250,000 to $400,000.
Louisiana HB300 amends existing law to change the appraisal threshold for bank-owned property. Currently, banks must obtain a current appraisal for residential property valued at or below $250,000. The bill raises this threshold to $400,000, allowing banks to conduct evaluations instead of appraisals for residential property valued up to $400,000. The law also maintains the requirement for an additional appraisal every third year for immovable property. This change affects state banks and the property valuation process for residential real estate.
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