The 2019 St. Tammany Tax Roll is now closed and tax bills will come out in November. Do you know where you stand on your property tax assessment? While it may be too late to challenge your assessment for this year, it is never too early to prepare for 2020.
As property owners, it is incumbent upon us to make sure we are taking advantage of all the options available that may lower our property tax assessment. So, here is a quick list you should be aware of that could lower the amount assessed and lower the amount you pay.
Homestead Exemption
The Louisiana Homestead Exemption exempts the first $75,000 of parish property tax due off the market value of primary residence. The property must be in your name and you are only allowed, by law, to claim on a single property. Also, it is up to the homeowner to file for this exemption with the accessors office.
Senior Freeze
This tax break freezes assessments on homes for those who qualify. It is available to homeowners that are 65 years of age or older with an adjusted gross income of $75,594.07 for the year 2019. The Senior Freeze applies to your principal residence only and does not prevent tax rates from going up, or new taxes being applied to your residence.
Veterans Freeze
This tax break freezes assessments on homes for those Veterans who qualify. To qualify, Veterans must be 50% or greater disabled through the VA. The Veterans Freeze freezes the principal value of their residence but does not prevent tax rates from going up, or new taxes being applied to that residence; and, unlike the 65 Freeze that only needs to be applied for once, Veterans must apply for the Veterans Freeze each year.
Social Security Freeze
This tax break freezes assessments on homes for those 100% disabled through Social Security. To qualify, applicants must be listed as 100% disabled through the Social Security Administration. The Social Security Freeze freezes the principal value of their residence but does not prevent tax rates from going up, or new taxes being applied to that residence; and, unlike the 65 Freeze that only needs to be applied for once, applicants must apply for the Social Security Freeze each year.
If you want to know your tax assessment for 2019 click this link to the St. Tammany Parish Assessors Office: https://stpao.org/check-your-assessment/
At Mortgage Gumbo, we’re committed to be your resource for everything related to owning your home and are always here to help. Feel free to call me, Dwayne Stein, anytime at 504-207-7600 or at [email protected].