Restoration Tax Abatement
Louisiana Economic Development’s Restoration Tax Abatement program offers full property tax abatement to encourage rehabilitation and improvement of existing structures in key districts statewide.
Funder: Louisiana Economic Development
Due Dates: Rolling (applications accepted year-round)
Funding Amounts: Up to 100% property tax abatement for five years on the increased value from rehabilitation; renewable for an additional five years with approval.
Summary: Provides a full property tax abatement for up to five years for the restoration or improvement of existing structures in designated Louisiana economic development, downtown, historic districts, or Opportunity Zones.
Key Information: Advance Notification and local governing authority approval required before project start.
Description
The Restoration Tax Abatement (RTA) program, administered by Louisiana Economic Development (LED), is designed to encourage the revitalization of existing buildings by offering a significant property tax incentive. Eligible property owners who undertake rehabilitation, restoration, or improvement projects within designated economic development districts—including downtown districts, historic districts, and Opportunity Zones—can receive a 100% abatement of property taxes on the increased value resulting from their improvements. This abatement lasts for up to five years, with the possibility of renewal for an additional five years, subject to local and state approval. The program aims to foster economic growth, community revitalization, and the preservation of valuable assets across Louisiana.
