Orleans Assessment Cap Awaits Statewide Referendum
NEW ORLEANS — A bill that would cap the annual increase of residential property tax assessments in Orleans Parish has cleared the Louisiana House and Senate will go before voters in 2022.
According to Rep. Matthew Willard, the bill’s author, HB 143 would cap the annual increase on a taxable assessment for residential properties with a homestead exemption at 10 percent. The limitation would not apply to rental or commercial properties. The 10 percent cap will not apply if the property changes ownership or if a home’s value is increased during an assessment year due to renovation or additions to the home.
“I want to thank my colleagues in the House and Senate for moving this bill forward to the voters,” said Willard in a press release. “My intent was always to provide tax relief to New Orleans homeowners, and I want to thank every New Orleanian who called for and supported this legislation. We have one last hurdle to clear before it becomes law, and it’s a big one. I look forward to working with housing, community and cultural organizations to help pass this Constitutional Amendment.”