When Should I File A Homestead Exemption Application?
What Are The Qualifications To Apply For The Special Assessment Level Freezes?
What Is Meant By Millage Rates Or Mills?
What Causes Adjustments to Millage Rates?

 

When Should I File A Homestead Exemption Application?

The Homestead Exemption was created to help reduce the burden of taxes on homeowners. At this time, the Homestead Exemption is set at $75,000. This means that if your property is valued at $75,000 or less, you will have no parish taxes. All of your taxes would be exempted by the Homestead Exemption Law. The Louisiana Legislature must pass a law, and the voters of the entire state must pass the new law at the voting polls before the amount of Homestead Exemption can be increased or decreased. The Homestead Exemption only applies toward your parish taxes. There is no Homestead Exemption for city taxes in Rapides Parish.

To qualify for Homestead Exemption you must own the property and live on the property. We require you to come to our office on the first floor of the Rapides Parish courthouse to apply.

You may only have a Homestead Exemption on one residence at a time. If you purchase a new home, we must cancel your Homestead Exemption on your old home before we can allow you Homestead Exemption on your new home.

Owners and residents of mobile homes are also eligible for Homestead Exemption on their mobile homes. It is not necessary for you to own the land that your mobile home is situated on. Just come by our office with documention (bill of sale, insurance, etc.) to identify the mobile home by serial number, make, model, length and width dimensions.

What Are The Qualifications To Apply For The Special Assessment Level Freezes?

Special Assessment Level:

Recent legislation passed a constitutional amendment which will Benefit:
Senior Citizens
Disabled Veterans
Permanently Disabled Homeowners

This Constitutional admendment would freeze the property assessment value of the property owners Homestead Exempted property. It does not apply to any other property, except that property which you have under Homestead Exemption.

It will freeze the property assessment value of the property and may save you from paying an increase in taxes over the years. It does not freeze the millage rate. If the voters pass any new millage or increase in millage your taxes will go up accordingly.

Your assessment value of your property may be frozen if:

1. Your property is residential and it has a Homestead Exemption.
2. The property must be owned and occupied by:
   A senior citizen who is 65 years or older/ or/
   A disabled veteran who has a service connected disability rating of 50% or more/ or/
   The widow of a MIA or POW/ or/
   The property owner is permanently and 100% disabled as determined by a judgement of court or certified by a state agency.
3. The property owners combined adjusted gross income from the prior tax year cannot exceed $62,180

An eligilble owner will need to file only once for this special assessment level, by filing a signed application form with the assessors' office.

 

What Is Meant By Millage Rates Or Mills?

Millage is the rate that is used in calculating taxes. A mill is defined as 1/10 of 1 cent and is multiplied by the assessed value after any exemptions have been subtracted to calculate the taxes. For example: if the tax rate is 150 mills and total assessed value is $10,000 with no exemptions, the taxes would be calculated as $10,000 x .150 = $1,500.00. If for the same house you had a homestead exemption the taxes would be: $10,000 - $7,500(H.E.) = $2,500.00 x .150 = $375.00 in taxes. This demonstrates the importance of filing a homestead exemption.

What Causes Adjustments to Millage Rates?

Changes in millage rates can occur under these circumstances:

1. If the voters approve a millage increase.
2. If the legislature approves the creation of a special district and grants authority to levy a millage.
3. Every four years the Assessors must reassess real property. State law provides that the tax collected in the year following a reassessment is adjusted so that it is equal to the tax collected the previous year on the same property tax base. The amount of millage is then adjusted up or down to satisfy this requirement. If the millage is lowered because of an increase in property values, it may be “rolled up” to the prior year’s millage after a public hearing and approval by a 2/3 vote of the taxing authority. The Assessors also must reassess personal property every year and the Louisiana Tax Commission reappraises public service property every year.