Restoration Tax Abatement

The Restoration Tax Abatement (RTA) program encourages the expansion, restoration, improvement, and development of existing structures in important districts by offering 5-year property tax abatement on the rehabilitation of structures in qualifying locations. The Orleans Parish property tax assessor’s office annually evaluates all properties that have been improved, which results in an increase to their property value, and an increase in ad valorem taxes. Once approved, the RTA program allows you to freeze your property taxes at the pre-improvement value, so that they do not increase due to the increased value of the property. Before the 5 year period expires, if there are additional improvements to the buildings, then the RTA may be eligible for another 5 year renewal period.

Eligibility: The RTA program is available to Louisiana businesses and property owners with existing structures to be expanded, restored, improved, or developed in Downtown Development Districts, Historic Districts, and Economic Development Districts. Renovation costs must exceed 20% of the pre-improvement property value, and 35% of construction costs must be paid to certified Louisiana Disadvantaged Business Enterprises in order to qualify.

 

If you’re considering renovating a property within a historic or economic development district, contact Webre Consulting prior to beginning construction to discuss your property’s eligibility.


< Return to list of services