Louisiana Governor Signs Law Providing Ad Valorem Tax Exemption for Affordable Housing in Orleans Parish

The Louisiana Governor June 20 signed a law regarding an ad valorem tax exemption in the city of New Orleans. The law includes measures providing that: 1) the city may grant any owner of immovable property located within Orleans parish an exemption for the purpose of affordable housing; 2) providing that the New Orleans Office of Community Development shall promulgate rules and regulations for determining when and what kind of ad valorem tax exemption is appropriate in different situations; 3) providing that any property subject to an exemption shall remain on the assessment rolls for Orleans Parish. The law takes ...