Restoration Tax Abatement

Revitalizing Communities The Restoration Tax Abatement (RTA) program provides an up-to ten-year abatement of property taxes (ad valorem) on renovations and improvements of existing commercial structures and owner-occupied residences located within economic development districts, downtown development districts, historic districts and opportunity zones. Five-year contract; option for five-year renewal with approval from local governing authority, Board of Commerce and Industry and governor’s approval. Contact Us Eligibility Restoration Tax Abatement (RTA) is available to all Louisiana businesses and homeowners with existing structures to be or developed in qualifying locations, and as approved by the local governing authority. If property taxes have been paid on improvements, a business or homeowner is not eligible to apply for the exemption. Qualifying Locations for Properties Include: Downtown Development Districts Historic Districts (includes properties listed on the National Register of Historic Places) Opportunity Zones Economic Development Districts* *Different from Enterprise Zones and Economic Development Zones Program Statutes & Rules: RTA program rules may be found in the Louisiana Administrative Code maintained by the Office of the State Register. Select Restoration Tax Abatement Constitutional Provision Select the Restoration Tax Abatement Statutes Select the Restoration Tax Abatement Rules Go to Title 13, Part 1, Chapter 9 Eligible Expenses: Building and Materials Machinery and Equipment (only that which becomes an integral part of the structure) Labor and Engineering Non-eligible Expenses: Acquisition Cost of the Structure or Land Movable and Personal Property Process Overview 1. Submit Advance Notification with fee online. 2. Submit application with fee and all required documentation online for LED review. 3. Begin the project. 4. LED reviews application and sends it to local governing authority for review. 5. If local governing authority approves application, a resolution is sent to LED. 6. Board of Commerce and Industry reviews application. 7. If approved, the Board issues contract through LED. 8. Submit Project Completion Report and Affidavit of Final Cost to LED with fees. 1. Submit Advance Notification with fee online. 2. Submit application with fee and all required documentation online for LED review. 3. Begin the project. 4. LED reviews application and sends it to local governing authority for review. 5. If local governing authority approves application, a resolution is sent to LED. 6. Board of Commerce and Industry reviews application. 7. If approved, the Board issues contract through LED. 8. Submit Project Completion Report and Affidavit of Final Cost to LED with fees. Getting Started First Step. Prior to project start, business owner or residential homeowner will submit online in FastLane an Advance Notification, and pay filing fee. If the contact designee is a representative other than a company official, a Disclosure Authorization is required and should be submitted inFastLane. View non-refundable fees associated with this incentive. Note: To determine if the overall tax benefit is greater than the cost to participate in this program, contact your assessor for approximate annual tax savings for the proposed investment in your property. Apply Now Next Steps Upon LED’s receipt of the advance notification and fee, the project may begin following these steps: Program Application and Fee Submit online before beginning construction. Begin Project Includes construction, purchase of equipment that is an integral part of the structure, building and materials and other eligible capital investment transactions. Application Review