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Property Tax break for the elderly?
Posted on 8/22/12 at 8:20 am
Posted on 8/22/12 at 8:20 am
In Louisiana, do homeowners over a certain age and income level get a reduction in property tax owed? I vaguely remember reading something like this, but I could be mistaken.
2
Posted on 8/22/12 at 8:20 am to slim thug
Yes
Posted on 8/22/12 at 8:29 am to slim thug
quote:No. At 65 the valuation assessment for their property is frozen at the current level. They do not get a "reduction in property tax owed."
In Louisiana, do homeowners over a certain age and income level get a reduction in property tax owed?
Posted on 8/22/12 at 8:33 am to LSURussian
Yeah, I found it. It is not going to be as beneficial as I thought, but it's an option worth looking at.
Posted on 8/22/12 at 8:54 am to LSURussian
quote:
No. At 65 the valuation assessment for their property is frozen at the current level. They do not get a "reduction in property tax owed."
I stand corrected. I was sure there some benefit, though it was some reduction.
Posted on 8/22/12 at 9:12 am to rmc
quote:Long term it is a benefit. They don't have to pay higher taxes in the future based on their property being reassessed upwards.
I was sure there some benefit,
ETA: This is only true for owner-occupied residential property. It does not apply to a "seasoned citizen" who owns commercial real estate.
This post was edited on 8/22/12 at 9:13 am
Posted on 8/22/12 at 11:02 am to LSURussian
quote:
No. At 65 the valuation assessment for their property is frozen at the current level.
I found this out when I bought my house which had been frozen for 25 years and the property tax tripled the first year.
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