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 aged 65 or older. This exemption applies if the settlor of the trust meets specific conditions, including being the immediate prior owner of the homestead, retaining a usufruct on the homestead, and occupying the homestead. The exemption applies to taxable years beginning on or after January 1, 2028, contingent on the adoption of a proposed constitutional amendment.
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