Bill > SB115

This bill is a constitutional amendment that would extend a special property tax assessment level to individuals who meet certain federal poverty guidelines. Specifically, the bill proposes to add language to Louisiana's constitution that would allow homeowners who fall at or below the federal poverty line (as defined annually by the U.S. Department of Health and Human Services) to receive a frozen property tax assessment. Under this proposal, if a homeowner qualifies for the special assessment level by meeting the federal poverty guidelines, their property's taxable assessment would remain at the same level as when they first qualified, preventing increases in their property tax burden. To maintain this special assessment, the homeowner must continue to own the property and annually meet the federal poverty guidelines. The amendment is set to become effective on January 1, 2027, and will be presented to Louisiana voters for approval at the statewide election on November 3, 2026. The ballot will ask voters whether they support extending the homestead exemption's special assessment level to people who annually meet federal poverty guidelines.

Budget and Finance

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=SB115&sbi=y