(Constitutional Amendment) Authorizes a parish local option concerning the amount of assessed value at which the homestead exemption shall apply (EG SEE FISC NOTE LF RV See Note)
Impact
If enacted, HB 345 would grant local governing bodies more flexibility in managing property tax exemptions, which could potentially enhance fairness in tax assessments at the parish level. The proposed modification aims to empower local governments to better address their unique fiscal needs and circumstances, thereby tailoring tax relief options to the local context. The electoral requirement ensures that any changes must reflect the community's will before implementation.
Summary
House Bill 345, introduced by Representatives Davis, Carter, and Foil, proposes a constitutional amendment allowing parish governing authorities to establish a specific assessed value at which a homestead exemption for ad valorem taxes would apply, subject to voter approval. Under current law, homesteads benefit from a standard exemption of the first $7,500 of assessed valuation. This bill suggests enabling parishes to set a threshold not exceeding $2,000 for this exemption, thereby retaining the original exemption while affording local control over property tax relief.
Sentiment
Overall, sentiments surrounding HB 345 are mixed. Supporters, primarily local government officials and constituents seeking tailored tax relief, view the bill positively as a step toward local empowerment. Conversely, detractors worry about potential disparities in tax relief across parishes, arguing that the changes could lead to inequitable treatment of homeowners based on locality. This tension reflects broader debates about local autonomy versus statewide uniformity in tax policy.
Contention
Key points of contention include concerns regarding the fairness of varying homestead exemption thresholds, which might disadvantage homeowners in less wealthy parishes. Additionally, some lawmakers fear that allowing parishes to determine their levels of tax exemption could set a precedent for further alterations in local tax policies that might not align with state objectives. Potential misinterpretation of what constitutes fair local governance versus state oversight could also emerge from this bill.
(Constitutional Amendment) Increases the amount of the homestead exemption and the level of a homestead's assessed valuation at which the homestead exemption applies (OR SEE FISC NOTE LF RV)
(Constitutional Amendment) Authorizes local elections to establish the level of assessed valuation of property at which the homestead exemption applies (OR INCREASE LF RV See Note)
(Constitutional Amendment) Provides with respect to the classification and valuation of property and local option relative to certain exemptions (EG SEE FISC NOTE LF RV See Note)
(Constitutional Amendment) Provides with respect to the amount of assessed valuation at which the homestead exemption applies (OR +$40,000,000 LF RV See Note)
(Constitutional Amendment) Increases the level of assessed valuation of property at which the homestead exemption applies (OR +$108,000,000 LF RV See Note)
(Constitutional Amendment) Authorizes an extension of the homestead exemption and special assessment level for property damaged or destroyed by a disaster under certain circumstances (RR1 INCREASE LF EX See Note)
Proposing a constitutional amendment establishing a limitation on the total amount of ad valorem taxes that political subdivisions may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses.
Proposing a constitutional amendment relating to the calculation of a limitation on the total amount of ad valorem taxes that may be imposed by certain political subdivisions on the residence homestead of a person who is elderly or disabled.
Proposing a constitutional amendment to appropriate money from the economic stabilization fund to the foundation school fund and use the money to finance a temporary increase in the amount of the exemption of residence homesteads from ad valorem taxation by a school district and a temporary reduction in the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect the increased exemption amount.
Constitutional amendment to extend the time in which the owner of a homestead must reoccupy the homestead in order to retain the homestead's homestead exemption or its special assessment level and to provide for claiming the extension. (1/01/11)(2/3-CA13s1(A)) (EN INCREASE LF EX See Note)