HOMESTEAD EXEMPTION
A homestead is defined by Louisiana law as up to 160 acres of land where a person lives. It can be one piece of land or several pieces. One part must have the home, and the other parts can be fields, pasture, or a garden.
The homestead exemption also applies to a mobile home or manufactured home if it is your real home and you own and live in it. You can qualify even if you do not own the land the home sits on.
To qualify for a homestead exemption:
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You must be a natural person (not a business), or a trust created by a natural person.
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You must own the property.
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You must live on the property as your main home.
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You cannot claim a homestead exemption on any other property.
If you meet these rules, you can receive one homestead exemption per property owner. The exemption protects up to $7,500 of assessed value (or $75,000 of market value) from state, parish, and special property taxes.
However, it does not protect you from property taxes charged by local city governments.
Veterans
Military veterans who have a 100% service-connected disability rating from the United States Department of Veterans Affairs may qualify for an extra $7,500 exemption. To apply, you must already have a homestead exemption and provide an A25 form from the Louisiana Department of Veterans Affairs.
Important Dates
Homestead exemptions are based on the property’s status on January 1 each year.
For example, if a new home is not finished and lived in by January 1, you cannot receive the exemption that year. Only the land value will be taxed.
After You Apply
Once you are approved, you do not need to reapply as long as:
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You still own the property, and
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It remains your primary residence.
Each spring, the Assessor mails receipts to confirm the exemption is still active. If you move and the receipt is returned by the post office, the Assessor will investigate and may cancel the exemption.
The Homestead Exemption May Also Apply To:
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A surviving spouse
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A surviving spouse with usufruct rights
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Up to two usufructuaries who were previous owners
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Certain trusts created for a surviving spouse or children
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Property owned together (only for the part owned and lived in by the person claiming it)
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People who own and live in a mobile home but lease the land
The Homestead Exemption Does NOT Apply To:
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Bond for deed purchases
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Property owned by a partnership or corporation
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Commercial property
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The part of a property used to earn income but not lived in by the owner
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Lease-purchase agreements that do not transfer ownership
For further detailed information regarding the homestead exemption, please view CONST 7:20 from the Louisiana State Legislature.
