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 amendment would enable a parish governing authority to grant an extra exemption of up to $22,500 on the assessed valuation of such properties, which currently benefit from the existing exemption that covers the first $7,500. The implementation of this additional exemption would require approval from the parish governing authority and would not trigger any reappraisal of property or adjustments to millages.

Furthermore, the bill stipulates that any decrease in ad valorem tax revenue resulting from the additional exemption must be absorbed by the taxing authority, ensuring that other taxpayers in the district are not burdened with increased tax liabilities due to this exemption. The proposed amendment will be submitted to voters during the statewide election scheduled for November 3, 2026, allowing the electorate to decide on the authorization of this enhanced homestead exemption.