Louisiana Investors-- Look out for these points on the ballot Nov 4 !
I'm not a politician nor big on even discussing politics... I'm just a newbie in this industry trying to learn as much as I can before my first purchase. To get on with my point, today I was researching some things and ran across a few items (amendments) on the ballot next month that are directly related to real estate investing in Louisiana, state wide.
Perhaps I missed the boat already, and everyone is already well aware of these points, but I thought (in an effort to get involved on BP more) I would throw this out there for discussion points and to post it in general for those who may not be aware.
Proposed Amendment No. 3
Do you support an amendment allowing an authorized agent of a tax collector to assist in the tax sale process, including the sale of property for delinquent taxes and that the fee charged by the authorized agent be included within the costs that the collector can recover in the tax sale? (AmendsArticle VII, Section 25(A)(1) and (E))Proposed Amendment No. 10
Do you support an amendment providing for an eighteen-month redemption period in any parish other than Orleans, for vacant property sold at tax sale which is blighted or abandoned? (Effective January 1, 2015) (Adds Article VII, Section 25(B)(3)Proposed Amendment No. 13
Do you support an amendment to authorize the governing authority of the city of New Orleans to sell at a price fixed by the legislature property located in the Lower Ninth Ward of the city of New Orleans? (AmendsArticle VII, Section 14(B))
Here's the link to see them in their entirety: http://legis.la.gov/LegisDocs/election2014/amendme...
My thoughts:
3- It states 3 parishes, including EBR, already use an agent (online platform) so it shouldn't make a difference there, but it could change the smaller parishes' process, or not-- some may not make any changes.
10- This seems great, compared to how it currently reads. Changing the 3-year redemption period to 12 months. How do investors get around this as it is already? I've wondered about the owners coming back and buying the properties back.
13- This one isn't in my wheelhouse (not that anything specifically related to REI is, but...) but I'm sure it's related to someone here who may be investing in the area.
Does anyone out there have any input on this, particularly Amendment No. 10, with the redemption period?