Restoration Tax Abatement
Louisiana’s Restoration Tax Abatement program offers 100% property tax relief for five years to encourage the rehabilitation of existing commercial and residential structures in designated development districts.
Funder: Louisiana Economic Development
Due Dates: Rolling
Funding Amounts: Up to 100% property tax abatement for five years (with possible renewal for five more years); applies to assessed value of rehabilitated structures.
Summary: Provides a five-year, 100% property tax abatement for rehabilitating existing structures in Louisiana's economic development districts.
Key Information: Renewal for an additional five years may be possible with local and state approval.
Description
The Restoration Tax Abatement (RTA) program is a Louisiana Economic Development incentive designed to encourage the rehabilitation and restoration of existing commercial structures and owner-occupied residences. By offering a substantial property tax abatement, the program aims to stimulate investment, economic growth, and revitalization in targeted areas such as economic development districts, downtown development districts, historic districts, and Opportunity Zones. Eligible projects can receive a 100% abatement of property taxes on the improvements for an initial five-year term, with the possibility of renewal for an additional five years upon meeting certain conditions.
