House Bill No. 570 proposes amendments to the ad valorem tax laws in Louisiana, specifically addressing the authority of taxing bodies to adjust millage rates. The bill allows taxing authorities to levy a millage rate lower than the maximum authorized rate without losing the ability to adjust to the maximum rate after a reassessment. It establishes that if a taxing authority does not levy its maximum millage rate prior to the 2024 reassessment year, that maximum rate will be permanently reduced to the adjusted maximum millage rate set for the 2026 ad valorem tax year or the 2025 ad valorem tax year in Orleans Parish. Additionally, if a subsequent reassessment results in an increased taxable value, the adjusted maximum millage rate will be decreased to the maximum millage rate for the 2024 reassessment year or the 2023 reassessment year for Orleans Parish.

The bill also modifies the process for tax recipient bodies to adopt ordinances or resolutions related to millage rate increases. It requires that before a tax recipient body can levy and collect an increased millage rate, it must adopt a separate ordinance or resolution by a two-thirds vote, which must specify both the increased and adjusted millage rates. This legislation will take effect on January 1, 2027, contingent upon the approval of a proposed amendment to Article VII of the Louisiana Constitution at a statewide election.

Statutes affected:
HB570 Original: 47:1705(B)(1)
HB570 Engrossed: 47:1705(B)(1)
HB570 Reengrossed: 47:1705(B)(1)