Homestead Exemption

Homestead Exemption Presently, the Louisiana Constitution Allows for a homestead exemption of $75,000. The homestead exemption negates the parish property taxes due on the first 75,000 of market value or 7,500 of assessed value. This exemption does not apply to taxes levied by any of the eight cities, towns, villages located in Tangipahoa Parish. To qualify for homestead exemption, the property must be your primary residence and you must be a resident of Tangipahoa Parish. Tangipahoa Parish has a permanent homestead exemption registration. Once you apply for homestead, you do not need to re-apply each year. If you sell your homestead property, you must re-apply when you purchase another home. The homestead exemption is granted by the State Constitution and can only be changed by an act of the Legislature. Any changes made by the legislature must be approved by 50% of the registered voters in the State of Louisiana

When Should I File A Homestead Exemption Application?
In order to qualify for homestead exemption, one must own and occupy the house as his/her primary residence. Regardless of how many houses are owned, no one is entitled to more than one homestead exemption, which is a maximum of $7,500 of assessed value, except in those parishes whereby voters approved that the next $7,500 of the assessed valuation on property receiving the homestead which is owned and occupied by a veteran with a service connected disability rating of 100% by the U.S. Department of Veterans Affairs shall be exempt from ad valorem taxation. If you change primary residence, you must notify the assessor. It is advisable to go in to the assessor’s office and apply for homestead exemption as soon as you purchase and occupy your home.

What Are the Qualifications to Apply for the Special Assessment Level for 65 And Older?

A Special Assessment applies to the homestead of person s who are 65 years of age and older if the adjusted gross household income is below a certain level. For the tax year 2015, that level will be $71,563. The level may change from year to year, so it is advisable to check with your assessor’s office to determine whether you qualify. This special assessment will freeze the assessed value of the homestead for as long as the applicant owns and resides in the home and income does not exceed the maximum allowed. This Special assessment level is lost if improvements in excess of 25% of the home’s value are added. Proof of age and income is required at the time the application is signed. The freeze extends to a surviving spouse who is at least 55 years of age, and meets all other qualifications.

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