Louisiana Senate Bill SB115

Louisiana 2025 Regular Session

• Introduced: 4/3/25
• Refer: 4/3/25
• Refer: 4/14/25

Caption

Constitutional amendment to extend eligibility for the special assessment level for residential property receiving the homestead exemption to certain persons. (2/3 - CA13s1(A)) (1/1/26) (OR DECREASE LF RV See Note)

Impact

If enacted, SB 115 could have a significant impact on state laws related to property taxation and financial assistance for low-income residents. By introducing the opportunity for individuals who qualify under federal poverty guidelines to benefit from the homestead exemption, the bill could provide much-needed financial relief to vulnerable populations. The amendment is set to apply to taxable years starting January 1, 2026, and it emphasizes the state's role in supporting homeowners facing economic hardship.

Summary

Senate Bill 115 proposes a constitutional amendment that aims to extend the eligibility for the special assessment level on residential properties that receive the homestead exemption. Specifically, the bill seeks to include individuals who meet federal poverty guidelines as published by the U.S. Department of Health and Human Services. This means that qualifying homeowners could have their property assessment levels locked in during their first year of eligibility without increases, provided they maintain their status under these guidelines.

Sentiment

The general sentiment surrounding SB 115 appears to be supportive, particularly among advocates for low-income households and social services. Proponents argue that the bill represents an important step forward in addressing housing affordability issues and enhancing the economic security of individuals living in poverty. Conversely, there may be concerns from those who believe that expanding tax exemptions could negatively affect local government revenues that rely on property taxes for critical services.

Contention

One notable point of contention surrounding SB 115 relates to the potential long-term consequences for property tax revenue in local jurisdictions. Critics may argue that while the intent is to help low-income individuals, increasing exemptions could create financial strain on local governments, leading to cuts in essential services. The debate often reflects the broader tensions around state-level taxation policies and the balancing act between supporting residents and ensuring adequate funding for public services.