New home owners in Louisiana can save several hundred dollars a year on property taxes by taking advantage of the Homestead Exemption.
What is the Homestead Exemption?
The Louisiana Homestead Exemption is an exemption on parish and state property taxes for the first $75,000 in value of your home. There are some taxes that are not included in the exemption, typically those for fire and police protection.
Does everyone qualify?
All owner occupants of residential property qualify. Investors are not eligible for the exemption. If you own more than one residence (for example your primary home and a vacation home) then the exemption applies to only one property.
Where do I file?
Exemptions are filed with the parish tax assessor’s office. After you have purchased a property and the mortgage has been recorded with the courthouse, you will need to bring your copy of the recorded sale documents to the tax assessor to file for your exemption.
Do I have to renew my exemption annually?
Yes. Each year, you will receive a renewal card in the mail from your parish assessor. Sign and return the card for automatic renewal without having to visit the office in person.
Have another question about homestead exemptions in the New Orleans area? Contact the West Bank Living Team.
