LEGISLATIVE FISCAL OFFICE
Fiscal Note
Fiscal Note On: HB 305 HLS 21RS 564
Bill Text Version: ORIGINAL
Opp. Chamb. Action:
Proposed Amd.:
Sub. Bill For.:
Date: April 18, 2021 9:57 AM Author: CARTER, ROBBY
Dept./Agy.: Local Property Tax Collectors / Revenue
Subject: Statewide Property Tax Analyst: Greg Albrecht
TAX/AD VALOREM TAX OR INCREASE GF RV See Note Page 1 of 1
Levies a statewide ad valorem property tax and provides for the assessment and collection of the tax
Proposed law levies a state property tax of 100 mills on the assessed value of property subject to ad valorem taxation. The
state tax is to be collected by local tax collectors at the same time as local property taxes are collected. Collectors shall
remit the state taxes to the Department of Revenue for utilization by state government.
Effective January 1, 2022, contingent upon adoption of the proposed constitutional amendment contained in HB ### of this
session.
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 INCREASE INCREASE INCREASE INCREASE $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
EXPENDITURE EXPLANATION
Administrative expenses incurred associated with local collecting and remitting the state tax, as well as receiving it at the
state level have not been determined.
REVENUE EXPLANATION
According to the latest annual report of the La Tax Commission, the statewide amount of assessed valuation was $46.447
billion, net of the homestead exemption. A 100 mill tax on that property base would generate approximately $4.644 billion
of state property tax receipts, with annual growth associated with growth of property valuations. Property taxes are
typically paid in December of each year. Thus, with a January 1, 2022 effectiveness, the first fiscal year of collections would
be FY23.
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}
Christopher A. Keaton
x 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} Legislative Fiscal Officer