Act 272 (2026 Regular Session)
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GAP-FILL 2026-10-10: fiscal_impact quoted verbatim from Louisiana Legislative Fiscal Office, Fiscal Note - HB214 Enrolled (26RS), Expenditure and Revenue Explanation sections (https://legis.la.gov/legis/ViewDocument.aspx?d=1474951). Single-sourced (one official document). Five-year expenditure/revenue tables in the note are not reproduced; see URL.
Do you support an amendment to allow property tax exemptions for blighted or derelict properties that have been rehabilitated, and to require the legislature to enact laws providing for administration of these exemptions? (Effective January 1, 2027) (Adds Article VII, Section 21(P))
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Act 272 (2026 Regular Session) - Proposing to add Article VII, Section 21(P) of the Constitution of Louisiana, relative to ad valorem taxes; to authorize the exemption of certain property from ad valorem taxes subject to conditions provided in law; to require the legislature to enact laws relative to implementation of the exemption; to provide for applicability; to provide for an effective date; to provide for submission of the proposed amendment to the electors; and to provide for related matters.
EXPENDITURE EXPLANATION There is no anticipated direct material effect on governmental expenditures as a result of this measure. Implementation of the exemption will require local tax system adjustments for processing the new exemption, but the cost is not expected to be significant. REVENUE EXPLANATION The impact of the proposed exemption on local property tax revenues is indeterminable and will depend on the extent to which parishes adopt the exemption, the extent to which the proposed exemption causes an increase in rehabilitation of blighted or derelict property, and the magnitude of the subsequent change in property values following rehabilitation. The proposed constitutional amendment does not specify the amount or duration of the exemption; instead, it provides that the legislature shall establish the term of the exemption and the conditions, requirements, and procedures necessary for a political subdivision to administer the exemption. Because blighted and derelict property values are generally low, revenue impacts would be felt primarily in the form of foregone revenue on the increase in property values pursuant to rehabilitation. Note that the Louisiana constitution requires parish assessors to reappraise and value property at least every four years, and millages are subsequently adjusted to maintain tax revenues consistent with the prior year despite changes to the tax base. If a parish assessor were to reappraise and value property upon implementation of this exemption, and millages were subsequently adjusted upward, the revenue impacts of the exemption would be borne by the taxpayers rather than being absorbed by the taxing authority. A significant change in local property tax collections may impact the local effort included in the Minimum Foundation Program (MFP) formula calculation, but any resulting impacts on state MFP funding allocations are indeterminable. Senate x
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