In Louisiana, we have something called a homestead exemption. Homestead exemption is a tax exemption on the first $75,000 of the value of a person’s home. This exemption applies to all homeowners. The value of your home is exempt up to $75,000 from state and parish property taxes. This is a benefit you definitely don’t want to forget to file for!
After your closing, your title company will file your act of sale in the Parish Clerk of Court office. You no longer need to wait for that recorded copy to file your homestead exemption. You can now file immediately after closing. Take your executed Act of Sale to the Assessor’s Office along with a form of id, and they will take care of the rest. In Ascension Parish, you can even do it online! If you can’t or forget to file right after closing, don’t fret, you can do it at any time. We just recommend doing it as soon as you purchase so you don’t forget. Remember, this is a significant tax savings for you. On average, the savings is $700-$800/year.
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. In order to qualify for homestead exemption, one must own and occupy the house as their primary residence. If you change primary residence, you must notify the assessor.
A Special Assessment applies to the homestead of a person who is 65 years of age and older if the adjusted gross household income is below a certain level. 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 over 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.
Where To File For Your Homestead Exemption
Check your parish below to find out how/where you can file.
East Baton Rouge
West Baton Rouge
I Forgot To File My Homestead Exemption
Forgetting to file your homestead exemption in Louisiana can result in a higher property tax bill. The homestead exemption reduces the taxable value of your primary residence, so failing to file for it means you’ll be paying taxes on a higher amount. Additionally, you may not be eligible for certain tax credits or other benefits that require proof of the homestead exemption. It’s important to make sure you file for the homestead exemption each year to avoid these consequences.
It’s not all terrible news if you have forgotten to file your homestead exemption. You can retroactively file for the homestead exemption in Louisiana if you missed the deadline. However, there are limitations to how far back you can go. You may only be able to claim the exemption for the current year and the previous two years, depending on your local assessor’s office. It’s best to contact your assessor’s office as soon as possible to discuss your options and any potential penalties or fees associated with filing late.
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