Senate Bill No. proposes a constitutional amendment to allow local governing authorities in Louisiana parishes to approve an additional homestead exemption for property already receiving the standard homestead exemption. Specifically, the bill permits an extra exemption of up to $22,500 on the assessed valuation of such properties, contingent upon approval by the parish governing authority. This amendment aims to provide further tax relief to homeowners while maintaining the existing homestead exemption, which currently applies to the first $7,500 of assessed property value.

Additionally, the bill stipulates that any reduction in ad valorem tax revenue resulting from this new exemption must be absorbed by the taxing authority, ensuring that other taxpayers in the district are not adversely affected. It also clarifies that the implementation of this additional exemption will not trigger reappraisals of property or adjustments to millages. The proposed amendment is set to be submitted to voters during the statewide election on November 15, 2025, allowing the electorate to decide on the adoption of this measure.