Assessor pitches historic-property tax credit to help owners of older Morgan homes

Morgan City’s assessor described a proposed tax credit Thursday intended to reduce tax burdens for owners who preserve older homes and commercial buildings, and asked the city council to endorse sending the idea on to county officials for consideration.

The proposal, presented by the assessor, would target roughly 100 homes or businesses out of about 1,900 county parcels and tie eligibility to property age, occupant age and income. “I do not do taxes, but I was willing to help wherever I can,” the assessor said, describing prior work on a homestead exemption and the new idea to support historic preservation.

If adopted as drafted, the program the assessor described would require applicants to live in a property for at least 25 years; be at least 65 years old; and have household income at or below $50,000 to qualify for an existing homestead-style exemption. For the separate historic-property tax credit under discussion, the assessor said homeowners could receive up to $1,200 or 20 percent of a defined threshold, while qualifying businesses could receive roughly 50 percent of certain costs up to about $2,000. The assessor said the Morgan Valley Preservation Society and the county historical society would help compile a list of candidate properties and make initial determinations of historic merit.

The assessor described the technical standards staff would use to confirm eligibility, saying building values would be evaluated against Marshall & Swift cost tables and that properties would need to meet a minimum condition ranking — “average” as the baseline — to remain eligible. The assessor said properties could be removed from the program if they stop complying with maintenance requirements.

Council members and staff discussed whether eligibility should be renewed annually or on a multi-year cycle. One council member said annual reviews might be onerous for owners and suggested longer renewal intervals; the assessor said an annual approach better matches existing exemption reviews and state guidance. The assessor added that the idea is new and that state officials are also watching the work to see whether the model could be adopted elsewhere.

City staff and the assessor emphasized that any countywide tax credit or exemption would require approval from the county commissioners and that the school district — which receives a sizable portion of property taxes — would also be affected. The assessor said staff could produce an estimate of the fiscal impact on the city, county and school district if the council asked for one.

Council members thanked the assessor for the briefing and agreed to forward a positive recommendation to the county commissioners for further consideration. The assessor said staff would pursue cost estimates and consult the preservation groups before presenting formal language to the commissioners.