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 introduces Article VII, Section 21(P) to the Louisiana Constitution, which permits a parish governing authority to grant an additional exemption of up to $22,500 on the assessed valuation of property that qualifies for the existing homestead exemption. This additional exemption can only be implemented if approved by the parish governing authority.

Furthermore, the bill stipulates that any reduction in ad valorem tax revenue resulting from this additional exemption must be absorbed by the taxing authority, ensuring that other taxpayers in the district are not adversely affected by subsequent reappraisals or millage adjustments. The proposed amendment will be presented to voters during the statewide election scheduled for November 15, 2025, allowing them to decide whether to authorize this enhanced homestead exemption.