re: Real estate in BTR is stupid right now.

The reason Louisiana abhors property taxes goes back tothe 1920s and 30s, when thousands of people lost their ancesteral farms due to unpaid property taxes, often just a few cents worth. Their notices of default by the state were typically mailed to incorrect addresses if even mailed at all. Payments to the state were lost or ignored, and millions of acres were confiscated, and often sold in corrupt auctions to connected oil companies and political families.

The outcry from this abuse led to the Constitution being amended to prevent the state from siezing property due to unpaid property taxes. Because siezing property is the primary enforcement mechanism for such a tax, it is pointless to have one at the state level.

The citizens supported the homestead exemption to protect them from the locals, and shift the tax burden onto industry.

Pure populism at its finest.