§1711.  Waiver of homestead exemption

A.  A taxpayer who is entitled to a homestead exemption on property may waive such exemption and pay the ad valorem tax due based on the entire amount of assessed valuation of the property.  Once the taxpayer has waived his homestead exemption and paid the ad valorem tax on his property, he may apply for the sales tax credit provided for in R.S. 47:315.4.

B.  A waiver of homestead exemption for the purposes of this Section shall be in writing and recorded annually in the mortgage records of the parish where the homestead is situated.  The waiver shall be filed not later than July thirtieth of each year and shall be applicable for the calendar year in which filed.  If the homestead is owned by more than one person, the signatures of all owners shall be required for the waiver.

C.  Any additional funds received under these provisions shall be remitted to the sheriff or property tax collector of the parish in which the property is located, who shall then remit the amount, minus administrative costs, to the single sales tax collector for the parish.

Acts 1999, No. 1266, §1, eff. July 12, 1999.