In Louisiana, the homestead exemption is a tax exemption from state and property taxes on the first $75,000 of the value of your primary residence, and applies to all homeowners occupying the home. So if you purchase a home that is valued at $300,000 and you file for homestead exemption, you will only have to pay property taxes on $225,000.
Homestead Exemption is a great benefit to home ownership in the state of Louisiana, however, it's not automatic. You will need to file with the tax assessor's office in order to receive the exemption. The process is pretty easy, but it does vary from parish to parish. The good news is that you only need to file once, and it's good for the entire time that you own the property as your primary residence!
If you have any questions about filing for homestead exemption, please feel free to email or call me at 225-229-0451. I have specific information for filing in all the parishes around our area, and would be happy to walk you through the process.
Homestead Exemption is just one example of the benefits available to homeowners in Louisiana. If you're interested in learning about additional ways to save money as a homeowner, I'm always available to help!