[StBernard] Why the Homestead Exemption Must Go

[Westley Annis]

Westley,

In theory I agree with your reasoning to abolish the homestead exemption,
but in practice - or perhaps I should say in "political pracitce" - I would
be against it.  Simply because I still not not trust state and local parish
government officials.

If you would abolish homestead exemption, the scale on property mills would
have to be properly lowered to adjust for incoming revenue to be the same as
it presently is with the exemption.  However, I do not trust government
officials or local taxing boards to keep their word and do this.  Or, if
they did, watch how quickly within a few years the mills keep getting
increased to "roll forward."  In a short time they would be right back to
where they are now, except then you would be paying twice as much property
taxes and not getting any more services for your double taxes.

Such an increase in property taxes would likely force many to lose their
homes not being able to afford both a house note and an expensive tax bill -
and believe me, it wouldn't take much to have a $2,400 per year tax bill
($200 a month), in St. Tammany all that would take is a house valued at
$150,000 - and anyone living in St. Tammany knows it doesn't take much of
house to be worth that.

Not to mention, what little is left of the real estate market you can kiss
goodbye.  If you think you're having trouble trying to sell your house now,
go ahead and double the real estate taxes on it and see what happens.

No, I'm afraid the homestead exemption is an ugly beast we might have to
live with indefinitely.

John