Q: What is Louisiana's Restoration Tax Abatement Program?
A: The Restoration Tax Abatement Program is an incentive created for municipalities and local governments to encourage the expansion, restoration, improvement and development of existing structures in downtown development districts, economic development districts and historic districts.
Q: How do I apply for the Louisiana Restoration Tax Abatement?
A: Submit online in FastLane an Advance Notification and $250 filing fee prior to project start (i.e., before beginning construction)
Q: What is the cost to participate in the RTA program?
A: A fee schedule is provided in the Getting Started section with the required fees.
Q: What is an Advance Notification?
A: A document notifying LED of an intended project before any construction or capital expenditure has been made. The earliest date construction can begin is the date an Advance Notification is submitted online successfully. If construction begins before an Advance Notification is submitted expenditures made prior to this date may not be included as part of the investment.
*Acknowledgement of receipt of Advance Notification by LED does not guarantee eligibility to participate in the program.
Q: What is a Resolution from the local governing authority?
A: A resolution is a written motion issued by the local governing authority approving participation in the Restoration Tax Abatement Program. It may also be called an Approval Resolution. This is required before an application can be presented to the Board of Commerce and Industry.
Q: What benefits are made available by participating in the Restoration Tax Abatement Program?
A: Five-year abatement of ad valorem property taxes on the increased value of the property from the restoration, improvement, development or expansion of an existing structure.
Q: Can someone other than the property owner or company representative file an RTA application?
A: Yes. If an application is being prepared and/or submitted by someone other than the owner of the property, submit a Resolution of the Board of Directors or Resolution of Property Owners and related documents to execute the application on behalf of the company or individual owner of the property for which the application is being filed.