House Bill No. by Representative Dewitt proposes to amend the current law regarding the reappraisal and valuation of property for ad valorem tax purposes. Specifically, the bill changes the required frequency of reappraisals for real property from at least every four years to at least every five years. This adjustment aims to provide a longer interval between assessments, which may impact property owners and local tax revenues.

The provisions of this bill will take effect on January 1, 2027, contingent upon the successful adoption of a proposed amendment to Article VII of the Louisiana Constitution through a statewide election. The bill also maintains the requirement that personal property must still be reappraised annually, ensuring that while the interval for real property assessments is extended, personal property remains subject to more frequent evaluations.

Statutes affected:
HB340 Original: