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In order to qualify for homestead exemption, one must own and occupy the house as his/her primary residence. Regardless of how many houses are owned, no one is entitled to more than one homestead exemption, which is a maximum of $7,500 of assessed value. If you change primary residence, you must notify the assessor.

The homestead exemption law gives property owners a tax break on their property taxes. The amount of savings that you would receive is generally about $750-$800 per year depending on your assessed value and the millage rate in your area.

Louisiana Homestead Statutes Louisiana's constitution dictates that only 160 acres and $7,500 in property value can be designated as a homestead. Disabled military veterans rated with 100 percent "unemployability" are eligible for a homestead exemption of $150,000.

Qualifying homeowners can get up to $100,000 deducted from the assessed value of their home. Exemptions increase based on age, and can be claimed by seniors, the disabled and veterans. Qualifying homeowners can get 50% the value of their primary residence (up to $100,000) deducted from property tax.

a) Owned and occupied by a person who is 65 years of age or older. b) Owned and occupied by a person who has a 50% or greater military service-related disability. c) Last owned and occupied by a member of the armed forces who was killed or is missing in action, or who is a prisoner of war.

If property owners continue to approve new millages, your taxes will continue to increase. To qualify for the Senior Citizens Special Assessment Level Homestead Exemption "freeze" you must meet both of the following: You must be 65 years of age or older by the end of the year in which you are applying.

As of January 1, 2012, the Homestead Exemption you receive on the property where you reside in Orleans Parish is permanent, as long as you continue to own the property and declare it as your domicile. Once you successfully apply for the Homestead Exemption, you no longer need to reapply on an annual basis.