(KTVE/KARD) — The proposed amendment 6 deals with the homestead exemption special assessment level, or the freezing of property tax values for certain groups of people.
Proposed Amendment 6:
Act 369 (HB 525, 2020 Regular Session by Representative Hilferty) – Proposed constitutional
amendment increases the income threshold for qualifying for the special assessment level for
residential property receiving the homestead exemption from $50,000 adjusted annually based on the Consumer Price Index to $100,000 with this amount being adjusted annually based on the Consumer Price Index beginning in tax year 2026. (Amends Const. Art. VII, §18(G)(1)(a)(ii))
This is what will be on the ballot:
“Do you support an amendment to increase the maximum amount of income a
person may receive and still qualify for the special assessment level for residential property receiving the homestead exemption?” (Amends Article VII, Section 18(G)(1)(a)(ii))
The ballot summary:
Present Constitution provides a special assessment level of residential property receiving the homestead exemption which is owned and occupied by the following person or persons who remain qualified for the special assessment level:
- people who are 65 years of age or older
- people who have a service-connected disability rating of 50% or more by the United States Department of Veterans Affairs
- members of the armed forces of the United States or the Louisiana National Guard who owned and last occupied such property who are killed in action, or who are missing in action or are a prisoner of war for a period exceeding 90 days
- or any person or persons permanently totally disabled as determined by a final non-appealable judgment of a court or as certified by a state or federal administrative agency charged with the responsibility for making determinations regarding disability.
What does a vote on this issue mean?
A “yes” vote supports amending the state constitution to increase the income threshold to qualify for the special assessment level for residential property owned by seniors and certain military and disabled persons from $50,000 (adjusted annually for inflation since 2001) to $100,000 per year beginning in 2026 (adjusted annually for inflation).
A “no” vote opposes amending the state constitution to increase the income threshold to qualify for the special assessment level for residential property owned by seniors and certain military and disabled persons, thereby maintaining the $77,030.36 income threshold, which was set at $50,000 in 2001 and adjusted annually for inflation.
What would Amendment 6 change?
Amendment 6 would mean that people who meet the qualifications for homestead exemption would be able to make approximately $28,000 more per year and still qualify for the special assessment level for residential property.
As it stands now, someone who is a senior citizen, served in a certain branch of the military, or a disabled person can only make $50k up to $77,030.36 per year to receive the homestead exemption.
What is the homestead exemption special assessment level?
A special assessment level freezes the assessed value of a residential property, and therefore also freezes the amount of property taxes owed unless the tax rate is increased in the parish.
A special assessment level is attached to the property as long as the individual owns it, the applicant’s spouse inherits the property and also meets the income limitation, or the value of the property does not increase by 25 percent due to structural improvements.
Other items on the ballot:
- Amendment 1: No Right to Abortion in Constitution Amendment
- Amendment 2: Include Oil and Gas Value in Tax Assessment of Wells Amendment
- Amendment 3: Use of Budget Stabilization Fund for Declared Disasters Amendment
- Amendment 4: Expenditures Limit Growth Formula Amendment
- Amendment 5: Payments in Lieu of Property Taxes Option Amendment
- Amendment 6: Homestead Exemption Special Assessment Income Limit Amendment
- Amendment 7: Unclaimed Property Permanent Trust Fund Amendment
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