Homestead Exemption

homestead exemption

 

After you close on your New Orleans home, you will need to file your Homestead Exemption if you will be living in this home full-time. (If this is a second home or investment property – you can’t file for Homestead Exemption)

 

What is a Homestead Exemption? 

Homestead Exemption is a discount on your property taxes for being an owner-occupant of the property. (That means you actually live full-time at this address) In order to get this discount, you must apply for it by bringing the necessary documents to the city’s assessors office.

 

You can’t do it right away though!

Anywhere from 4 to 6 weeks after your closing, you will receive your recorded Act of Sale in the mail or electronically from the title company that handled the sale of your home.

 

What’s a recorded Act of Sale?

This is when the title company has gone down to City Hall and had the sale of your house recorded with the city. It’s on record that you bought 123 Main Street.

 

Ok, now what to do I do again? 

As your New Orleans real estate agents, we will remind you to go file for your Homestead Exemption.

You’re going to take that recorded Act of Sale, along with your new license that has your new home’s address on it, AND an Entergy bill down to the assessor’s office. They will take the paperwork from you, stamp some things, and send you on your way. It doesn’t cost you a dime and saves you money on your property taxes.

 

Where do I go to file for Homestead Exemption? 

Eastbank office: 

New Orleans City Hall, Room 4E01, 1300 Perdido Street, New Orleans, LA 70112

Phone: 504.658.1300

Westbank Office: 

Algiers Courthouse, Room 104, 225 Morgan Street, New Orleans, LA 70114

Phone: 504.368.7642

 

What happens after I file for Homestead Exemption?

Your property taxes will be lowered!

 

Lagniappe Homestead Exemption Info

The City of New Orleans does have an age freeze for your property taxes if you’re 65 and above. They also have a disability freeze and 100 percent Disabled Veterans Exemption.  You will need to inquire with the assessor’s office to see if you qualify.

 

 

 

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