Restoration Tax Abatement (RTA)
The Restoration Tax Abatement (RTA) Program provides to commercial property owners and homeowners who expand, restore, improve, or develop an existing structure in a downtown development district, economic development district, or historic district the right to pay ad valorem taxes based on the assessed valuation of the property for the year prior to the commencement of the project for five years after completion of the work.
Local Submission Requirements
- Description of Restoration
- Investment Total
- Before & After Appraisals
- Pro Forma (income producing projects)
- Additional Tax Breaks
- Project Owners: A complete list of all principals in the project.
- Cost/Benefit Analysis (sales tax revenue generated projects)
- Eligibility Certification Form
- Jobs Created
- Tax Status
- Sales Tax Revenue
- Building Permit Job Value Verification
- Proof of DBE Participation
Click here for the initial application checklist. The renewal checklist can be found here, and a transfer checklist can be found here.
Log in to FastLane on the Louisiana Economic Development website, and fill out an Advance Notification form. The form should be filed before any construction activity, as some local governments may not be conducive to granting requests for this tax exemption if the project has already begun. More information about the program can be found here
RTA Meeting Schedule
The RTA meeting schedule for 2015 can be found here. Click here for the 2016 meeting schedule.
Contact program manager,Tracey Jackson, at (504) 658-4955 with questions.
Last updated: 10/18/2016 5:41:13 PM
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