Many New Orleans homeowners recently saw their property tax bills increase, sometimes by triple amounts. While this came as a surprise to many in New Orleans, it stood as a wake-up call to the rest of the state. Orleans parish is assessed the year prior to the rest of the parishes. What this means is that next year, the remainder of the parishes in the state will be reassessed for the value of their property. So, how do you prepare for a potential increase in your property tax assessment? Being proactive and informed is the best way and we here at Mortgage Gumbo are ready to help you along the way. Over the next few months, we will bring you valuable tips to help you be better prepared to handle a possible increased assessment of your home. And here is your first tip…
Tip #1
The Senior Freeze
This tax break freezes assessments on homes for those who qualify. It is available to homeowners 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.
As always, we are here at Mortgage Gumbo to help you and we are your total home authority. If you have questions about the Senior Freeze or other ways you can better prepare for a possible new property tax assessment contact me, Dwayne Stein at 985-612-1900 or at [email protected].