Louisiana House Bill HB353

Louisiana 2018 Regular Session

• Introduced: 3/1/18
• Refer: 3/1/18
• Refer: 3/12/18

Caption

(Constitutional Amendment) Provides with respect to the classification and valuation of property for purposes of ad valorem taxation (OR SEE FISC NOTE LF RV)

Impact

If passed, the implications of HB 353 would alter how property taxes are levied and assessed across Louisiana. By transferring the authority to establish property classifications and fair market values to legislative law, it effectively allows the state legislature to amend these classifications more swiftly and responsively to reflect economic conditions. A mandatory adjustment in millages would be required to ensure that the total amount of ad valorem taxes collected remains constant despite any changes in property classifications, preventing immediate financial repercussions for local taxing authorities upon changes.

Summary

House Bill 353 proposes a constitutional amendment regarding ad valorem taxation in Louisiana. Specifically, the bill seeks to change the authority for establishing property classifications and fair market value percentages used for property assessments from constitutional provisions to statutory law. This shift is aimed at allowing the Louisiana legislature to create laws that can more equitably assess properties statewide, ensuring fairness in property taxation and assessment processes.

Sentiment

The sentiment surrounding HB 353 appears to be mixed. Proponents argue that the shift to legislative control will enhance the ability of local governments to address discrepancies and create a more just taxation system that reflects current market realities. They view this as a progressive step toward managing property taxes more effectively. However, there are opponents who see this change as a challenge to the constitutional safeguards currently in place, fearing it may lead to potentially arbitrary changes that could disadvantage certain property owners.

Contention

Notable points of contention revolve around the balance of power between state and local governance concerning property tax assessments. Critics are concerned that legislative control could lead to a lack of transparency and accountability in property valuation, undermining the protections that the constitution currently offers. Discussions also focus on how such changes could affect funding for local services, as property tax is a significant revenue source for many local governments.