vote yes 4 nola homes
VOTE YES 4 NOLA HOMESOCTOBER 12TH
New Orleans Affordable Housing Constitutional Amendment #4
Do you
support an amendment to allow the City of New Orleans to exempt property within Orleans Parish from all or part of ad valorem taxes that would otherwise be due for the purpose of promoting affordable housing?
This October, voters statewide will weigh in on New Orleans’ ability to solve its housing affordability crisis.
With more local solutions, New Orleans can better take care of its own affairs. Yes on Constitutional Amendment #4 would allow New Orleans to use tax abatements to incentivize affordable housing.
49%
of New Orleans households have to pay 1/3 of income or more in housing costs
20%
of homes are vacant
6 in 10
New Orleans renters pay more than 1/3 of their income monthly to landlords
69,000
households are experiencing an increase in property taxes
Source: ACS 2013 - 2017
The New Orleans Affordable Housing Amendment is the solution we need.
Bipartisan support
Supported by Democrats, Republicans, and Independents, largely because it provides local solutions to local problems.
Keep people in their homes
Allows New Orleans to help longtime residents stay in their homes with property tax incentives.
A market-based approach
This approach reduces the impact of skyrocketing government assessments, so we can allow the free market to determine home values.
Let Louisiana's economic engine thrive
Helping longtime residents stay in the city preserves New Orleans’ culture and tax base, so Louisiana's economic engine can continue to thrive.
How does this affect me?
Renters
Help reduce average rental prices by increasing the number of affordable rentals on the market.
Homeowners
Reduce barriers to first-time homeownership. Voting yes will also help long-time homeowners keep the homes they have. Similar programs in other cities have helped prevent displacement.
Builders
Will provide an additional incentive for new housing construction.
Property Owners
Owners of small rental buildings will qualify for tax abatements if they maintain affordable rent for projects no larger than 15 units.
This is a statewide election, and we can all do our part, across Louisiana.
Get updates.
Frequently Asked Questions
1.
Why is this necessary?
We know that we cannot fund our way out of this affordability crisis, and New Orleans residents are hurting. So this is one way for us to innovate our way to policy solutions to address the ongoing crisis.
2. How exactly will this provide for more affordable housing?
A vote “yes” means that New Orleans will be allowed to create programs that use this policy tool. This has worked well in other cities, and could be expanded to include landlords and renters. It would be up to us to work with Council and stakeholders to set eligibility criteria and create the program parameters, which may be limited by what we can afford. We also hope that we can work to develop some new housing opportunities, where a tax incentive can be one layer in the layered approach to maximizing affordability. For example, there may be a zoning incentive, some of our federal housing funds and even a 4% tax credit. We know that none of these things on their own is enough to get the kind of affordability we need. But by layering them together, we hope to attract developers that can build more units and at better prices for residents. All a vote “yes” does is allow us to do the work.
3.
Why does this even require a constitutional amendment?
Since no state revenue is derived from New Orleans’ property taxes, this is really about local control.
Right now, the Louisiana constitution outlines authorized property tax exemptions and lists the examples that may be exempt from ad valorem taxation, but New Orleans cannot act on her own without voters statewide weighing in.
4.
How did it make it onto the ballot?
This issue was passed overwhelmingly by the state legislature, with strong support by Republicans, Democrats and Independents in both the House and Senate.
5.
Will this raise my taxes?
This would not raise taxes on anyone in Louisiana. The amendment would only allow the City Council to reduce local property taxes on New Orleanians.
6.
Why not here?
If we're successful, this could be a pilot program that could expand to other cities. But a cookie cutter approach is difficult because the tax bases may be very different. For example, New Orleans is much further out from disaster than Baton Rouge is with the floods of 2016. So while this program would take advantage of the growth in New Orleans' property tax base, other cities may not be experiencing the same kind of growth.
7.
Is this a blank check?
This is not a blank check—the legislature also passed a law the puts strict financial guardrails in place. While that law only goes into effect if #4 passes, it limits any incentives to apply to 15 units or less, eliminates short-term rental occupied properties, and narrows eligibility to really focus on homeownership and smaller apartment buildings.
8.
How does the city plan to make up the revenue?
If passed, New Orleans would be able to use Amendment #4 to address blight. That puts money back on to the rolls and expands our tax base.
9.
What is used to decide whether a property qualifies as affordable?
If passed, the City would be able to develop housing programs that include things like eligibility requirements. New Orleanians are priced out of neighborhoods we've long called home. Among other things, Amendment #4 would allow the City to create programs that address the needs of people who may not otherwise qualify for subsidized housing, but are feeling the squeeze of skyrocketing costs.
10.
How will this help longtime residents stay in their houses due to property tax incentives?
There are four primary mechanisms that could be leveraged: 1) By reducing the impact of skyrocketing assessments and property taxes on longtime and first-time homeowners, 2) by increasing the availability of affordable rentals, 3) by providing an additional incentive for new housing construction, and 4) by allowing for tax incentives for property owners who maintain steady rent.
11.
Who will be granting the exemptions?
Mayor Cantrell's Administration would work with the City Council through a public process to develop the housing programs, which includes the qualifications for tax relief.
12.
Are tax incentives based on income?
Mayor Cantrell's Administration would work with the City Council through a public process to develop the housing programs, which includes the qualifications for tax relief.
13.
Does it apply to those with homestead exemptions only or can STR owners take advantage?
The ballot measure would prohibit properties used as short-term rentals (less than 30 days) from receiving the exemption.
14. How many properties would be affected?
Constitutional Amendment 4 only allows the city to develop its own housing programs. Mayor Cantrell's Administration would work with the City Council through a public process to set the parameters.
15. Is there a list of eligible properties?
Mayor Cantrell's Administration would work with the City Council through a public process to develop clear, transparent, and fair eligibility criteria.
