Extends ad valorem tax exemption eligibility to certain trusts for property owners aged 65 or older.
Louisiana HB961 extends the ad valorem tax exemption to certain trusts for property owners who are at least 65 years of age or older. This applies to taxable years beginning on or after January 1, 2028, contingent on the adoption of a proposed constitutional amendment. The settlor of the trust must meet specific conditions, including being the immediate prior owner of the homestead, transferring the naked ownership to the trust, and retaining a usufruct on the homestead.
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