Bill > HB217

This bill enacts a new law allowing parishes, which are local government entities in Louisiana similar to counties, to offer an optional property tax exemption for blighted or derelict properties that have been rehabilitated. Blighted property is defined as property officially declared a public nuisance, while derelict property includes structures that are unsafe, lack proper exits, are fire hazards, or are otherwise dangerous or poorly maintained. If a parish chooses to implement this exemption, it must establish an application process, set rehabilitation standards, define approval criteria, and outline conditions for revoking an exemption. For residential properties, up to 75% of the assessed value can be exempted for up to 20 years, and for unimproved land adjacent to a developed property, up to 25% can be exempted for up to 10 years, with a limit of two such parcels per owner. Property owners must hold title to the property to be eligible, and the Louisiana Tax Commission may create rules to administer these provisions, with the exemption taking effect on January 1, 2027, contingent on a constitutional amendment being approved.

Budget and Finance

https://www.legis.la.gov/legis/BillInfo.aspx?s=26rs&b=HB217&sbi=y