House Bill No. 271 proposes a constitutional amendment to allow parish governing authorities in Louisiana to increase the homestead exemption amount by up to an additional $5,000 of the assessed value of a bona fide homestead. Currently, the homestead exemption provides a tax exemption for the first $7,500 of assessed valuation of a homestead. The proposed amendment would require approval from the parish governing authority for any increase in the exemption amount. Additionally, the bill outlines that the proposed amendment will be submitted to voters during the statewide election on November 3, 2026, and, if approved, will take effect on January 1, 2027, applying to property taxes for the tax year 2027.

The bill also includes several deletions and insertions to clarify the language regarding the exemptions for veterans and first responders. Specifically, it removes references to specific assessed value thresholds for veterans' exemptions and instead states that ad valorem property taxes will only apply to the assessed value exceeding the homestead exemption and any additional exemptions provided. This amendment aims to simplify the tax exemption process for veterans and first responders while allowing for potential increases in the homestead exemption at the parish level.