DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of
the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of
the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
Leger HB No. 521
Abstract: Increases the amount of the homestead exemption from $7,500 to $9,000 of assessed
value and provides that the exemption shall apply after the first $1,000 of assessed value.
Present constitution exempts from certain property taxes the first $7,500 of assessed valuation
($75,000 of fair market value) of a homestead.
Proposed constitutional amendment changes provisions of present constitution with respect to the
amount of the homestead exemption by increasing the value of the exemption from $7,500 to
$9,000 of assessed value.
Proposed constitutional amendment provides that the homestead exemption shall not apply until
after the first $1,000 of assessed valuation. The first $10,000 of fair market property value would
be taxable, with the homestead exemption applicable for the next $90,000 in fair market value.
Proposed constitutional amendment specifies that the implementation of proposed constitutional
amendment on Jan. 1, 2015, shall neither trigger nor be cause for a reappraisal or millage
adjustments pursuant to present constitution.
Provides for submission of the proposed amendment to the voters at the congressional general
election on Nov. 4, 2014.
Effective Jan. 1, 2015.
(Amends Const. Art. VII, ยงยง20(A)(1) and 23(B))