TAX EXEMPTIONS/HOMESTEAD: Provides relative to the homestead exemption (OR SEE FISC NOTE LF RV)

HB 543 would increase the homestead property tax exemption in Louisiana from $5,000 to $7,500 of assessed value for qualifying homeowners, effective January 1, 2027, if a related constitutional amendment passes in a statewide election. It also provides residential lessees with a tax credit equal to the tax on $7,500 of assessed value (capped at their actual tax bill), but only if they do not qualify for the homestead exemption themselves. The bill directly affects homeowners who claim homestead status and residential renters in Louisiana. The exemption amount change applies statewide, with historical adjustments for Orleans Parish noted in the text. The bill’s implementation is contingent on voter approval of a constitutional amendment, as specified in Section 2.