HB 514

ENROLLED
 2026 Regular Session
  ACT No. 274
 HOUSE BILL NO. 514
 BY REPRESENTATIVES FARNUM AND CHASSION
1A JOINT RESOLUTION
2 Proposing to add Article VII, Section 21(P) of the Constitution of Louisiana, relative to ad
3valorem taxation; to extend an ad valorem tax exemption for property owners who
4are sixty-five years of age or older; to provide for the amount of the exemption; to
5provide for requirements and limitations; to provide for implementation of the
6exemption by parishes and municipalities; to prohibit the reappraisal and valuation
7of property for purposes of millage adjustments under certain circumstances; to
8provide for applicability; to provide for an effective date; to provide for submission
9of the proposed amendment to the electors; and to provide for related matters.
10Section 1. Be it resolved by the Legislature of Louisiana, two-thirds of the members
11 elected to each house concurring, that there shall be submitted to the electors of the state of
12 Louisiana, for their approval or rejection in the manner provided by law, a proposal to add
13 Article VII, Section 21(P) of the Constitution of Louisiana, to read as follows:
14§21. Other Property Exemptions
15Section 21. In addition to the homestead exemption provided for in Section
1620 of this Article, the following property and no other shall be exempt from ad
17valorem taxation:
18*       *  *
19(P)(1) In addition to the homestead exemption authorized pursuant to the
20provisions of Section 20 of this Article, which applies to the first seven thousand five
21hundred dollars of the assessed valuation of property, an additional exemption shall
22apply to property receiving the homestead exemption that is owned and occupied by
  Page 1 of 3
 CODING: Words in struck through type are deletions from existing law; words underscored
 are additions.
 HB NO. 514  ENROLLED
1a person who is at least sixty-five years of age or older and who qualifies for the
2special assessment level pursuant to Article VII, Section 18(G)(1)(a)(i) of this
3constitution. The amount of the additional exemption shall be as follows:
4(a) For persons sixty-five years of age but not yet sixty-nine years of age, the
5next six thousand dollars of the assessed valuation of the property shall be exempt
6from ad valorem taxation.
7(b) For persons sixty-nine years of age but not yet seventy-three years of age,
8the next twelve thousand dollars of the assessed valuation of the property shall be
9exempt from ad valorem taxation.
10(c) For persons seventy-three years of age but not yet seventy-seven years of
11age, the next eighteen thousand dollars of the assessed valuation of the property shall
12be exempt from ad valorem taxation.
13(d) For persons seventy-seven years of age but not yet eighty-one years of
14age, the next twenty-four thousand dollars of the assessed valuation of the property
15shall be exempt from ad valorem taxation.
16(e) For persons eighty-one years of age and older, the next thirty thousand
17dollars of the assessed valuation of the property shall be exempt from ad valorem
18taxation.
19(2) The surviving spouse of a property owner claiming the exemption shall
20be eligible for the exemption provided for in this Paragraph if the surviving spouse
21occupies and remains the owner of or retains a usufruct on the property and is not
22more than five years younger than the owner.
23(3) The exemption provided in this Paragraph shall be applicable in any
24parish or municipality in which the exemption has been approved by a majority of
25the electors of the parish or municipality voting at an election called for that purpose.
26(4) Notwithstanding any provision of this constitution to the contrary, any
27decrease in the total amount of ad valorem tax collected by the taxing authority as
28a result of the exemption shall be absorbed by the taxing authority and shall not
29create any additional tax liability for other taxpayers in the taxing district as a result
30of any subsequent reappraisal and valuation or millage adjustment. Implementation
  Page 2 of 3
 CODING: Words in struck through type are deletions from existing law; words underscored
 are additions.
 HB NO. 514  ENROLLED
1of the exemption authorized in this Paragraph shall neither trigger nor be cause for
2a reappraisal of property or an adjustment of millages pursuant to the provisions of
3Section 23(B) of this Article.
4(5) A trust shall be eligible for the exemption provided for in this Paragraph
5as provided by law.
6Section 2. Be it further resolved that the provisions of the amendment contained in
7 this Joint Resolution shall become effective January 1, 2028, and shall be applicable to all
8 tax years beginning on or after January 1, 2028.
9Section 3. Be it further resolved that this proposed amendment shall be submitted
10 to the electors of the state of Louisiana at the statewide election to be held on November 3,
11 2026.
12Section 4. Be it further resolved that on the official ballot to be used at the election,
13 there shall be printed a proposition, upon which the electors of the state shall be permitted
14 to vote YES or NO, to amend the Constitution of Louisiana, which proposition shall read as
15 follows:
16Do you support an amendment to authorize parishes and municipalities to
17extend an additional property tax exemption for property subject to the
18homestead exemption that is owned and occupied by a person who is at least
19sixty-five years of age and who qualifies for the special assessment level?
20(Effective January 1, 2028) (Adds Article VII, Section 21(P))
  SPEAKER OF THE HOUSE OF REPRESENTATIVES
  PRESIDENT OF THE SENATE
  Page 3 of 3
 CODING: Words in struck through type are deletions from existing law; words underscored
 are additions.