Louisiana HB514: TAX/AD VALOREM-EXEMPTION: (Constitutional Amendment) Authorizes an additional ad valorem tax exemption for certain property owners aged sixty-five and older (EN SEE FISC NOTE LF RV See Note)

What the bill says

A joint resolution Proposing to add Article VII, Section 21(P) of the Constitution of Louisiana, relative to ad valorem taxation; to extend an ad valorem tax exemption for property owners who are sixty-five years of age or older; to provide for the amount of the exemption; to provide for requirements and limitations; to provide for implementation of the exemption by parishes and municipalities; to prohibit the reappraisal and valuation of property for purposes of millage adjustments under certain circumstances; to provide for applicability; to provide for an effective date…

From the introduced text:

A JOINT RESOLUTION Proposing to add Article VII, Section 21(P) of the Constitution of Louisiana, relative to ad valorem taxation; to extend an ad valorem tax exemption for property owners who are sixty-five years of age or older; to provide for the amount of the exemption; to provide for requirements and limitations; to provide for implementation of the exemption by parishes and municipalities; to prohibit the reappraisal and valuation of property for purposes of millage adjustments under certain circumstances; to provide for applicability; to provide for an effective date; to provide for submission of the proposed amendment to the electors; and to provide for related matters. Section 1. Be it resolved by the Legislature of Louisiana, two-thirds of the members elected to each house concurring, that there shall be submitted to the electors of the state of Louisiana, for their approval or rejection in the manner provided by law, a proposal to add Article VII, Section 21(P) of the Constitution of Louisiana, to read as follows: §21. Other Property Exemptions Section 21. In addition to the homestead exemption provided for in Section 20 of this Article, the following property and no other shall be exempt from ad valorem taxation: * * * Page 1 of CODING: Words in struck through type are deletions from existing law; words underscored are additions. …

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