Louisiana Extends Property Tax Benefits to Certain Homesteads in Trusts

The Louisiana Legislature enacted /LA\FINAL\2018R1SB289///, adding La. Rev. Stat. Ann. Sections 47:1713, 47:1714 and 47:1715, extending property tax benefits to certain homesteads in trusts. The bill: 1) provides for a special assessment level for homesteads in trusts under certain conditions, including that the naked ownership of the homestead was transferred to the trust; and 2) extends the existing homestead exemption benefits for disabled veterans and the surviving spouses of certain law enforcement and other first responders to certain homesteads in trust. The bill is effective upon adoption of certain constitutional amendments, contained in S.B. 163 of the 2018 ...