OFFICE OF LEGISLATIVE AUDITOR
Fiscal Note
Fiscal Note On: HB 143 HLS 21RS 211
Bill Text Version: ENROLLED
Opp. Chamb. Action:
Proposed Amd.:
Sub. Bill For.:
Date: June 8, 2021 11:25 AM Author: WILLARD
Dept./Agy.: Orleans Parish Taxing Authorities
Subject: Limit on Residential Property Reassessed Value Increases Analyst: Steven Kraemer
TAX/AD VALOREM TAX EN SEE FISC NOTE LF RV Page 1 of 1
(Constitutional Amendment) Limits the amount of the increase in the assessed value of certain immovable property in
Orleans Parish following reassessment of property for purposes of ad valorem taxes
Purpose of Bill: This bill limits the increase in the reassessed value of residential property subject to homestead exemption
in Orleans Parish to 10% of the property’s assessed value in the previous year.
The loss of potential property tax revenue resulting from this limit will be absorbed by the affected taxing authorities without
creating additional tax liability for other taxpayers. This limit does not apply to valuation increases attributable to transfer or
conveyance of ownership of the property nor to increases attributable to construction or improvements to the property.
This proposed Constitutional Amendment is to be submitted to the electors at the statewide election to be held on November
8, 2022, and will be applicable to tax years starting on or after January 1, 2023.
EXPENDITURES 2021-22 2022-23 2023-24 2024-25 2025-26 5 -YEAR TOTAL
State Gen. Fd. $0 $0 $0 $0 $0 $0
Agy. Self-Gen. $0 $0 $0 $0 $0 $0
Ded./Other $0 $0 $0 $0 $0 $0
Federal Funds $0 $0 $0 $0 $0 $0
Local Funds $0 $0 $0 $0 $0 $0
Annual Total $0 $0 $0 $0 $0 $0
REVENUES 2021-22 2022-23 2023-24 2024-25 2025-26 5 -YEAR TOTAL
State Gen. Fd. $0 $0 $0 $0 $0 $0
Agy. Self-Gen. $0 $0 $0 $0 $0 $0
Ded./Other $0 $0 $0 $0 $0 $0
Federal Funds $0 $0 $0 $0 $0 $0
Local Funds $0 $0 SEE BELOW SEE BELOW SEE BELOW $0
Annual Total $0 $0 $0
EXPENDITURE EXPLANATION
There is no anticipated direct material effect on governmental expenditures as a result of this measure.
According to an official with Orleans Parish Assessor’s Office, this bill will not significantly impact the expenditures of his
office.
The election on November 8, 2022, is a statewide election. The addition of constitutional amendments will not increase
election costs as the Secretary of State routinely budgets for the cost of constitutional amendments for statewide primary
and general elections.
REVENUE EXPLANATION
This bill is not expected to decrease overall local government ad valorem tax revenue, but the bill may decrease
the rate at which this revenue grows in future reappraisal years.
According to an official with Orleans Parish Assessor’s Office, this bill limits the revenue growth for all tax recipient agencies
in Orleans Parish that are funded by ad valorem taxes. This official stated that, for the 2021 tax year, there were
approximately 7,021 properties in Orleans Parish subject to the homestead exemption that had an assessed value of more
than 10% over the previous year’s assessed value.
Senate Dual Referral Rules House
13.5.1 >= $100,000 Annual Fiscal Cost {S & H} 6.8(F)(1) >= $100,000 SGF Fiscal Cost {H & S}
Michael G. Battle
13.5.2 >= $500,000 Annual Tax or Fee 6.8(G) >= $500,000 Tax or Fee Increase
Change {S & H} or a Net Fee Decrease {S} Manager, Advisory Services