FAQ's About AssessmentsHow is property assessed?
Many factors are taken into consideration when finding the value of any piece of property. Some of those factors include comparables, how much it takes to operate and keep it in repair, any income it may have, and many other economic factors such as current loan interest rates.
What are my rights and responsibilities?
As a property owner, your rights include knowing how the assessor arrived at the values placed on your property. You have the right to look at the public records and ask questions. If you do not agree with the assessor's findings, you have the right to appeal. As a property owner, your have the responsibility to see that all taxes on your property are paid in a timely manner. It is your reponsibility to check with the assessor's office to determine if you are eligible for exemptions or special assessments.
When should I file for Homestead Exemption?
It is advisable to go to the assessor's office and apply for Homestead Exemption as soon as you purchase and occupy your home. If you change your primary residence, you must notify the assessor.
What causes property values to change?
A property's value can change for many reasons. The most obvious reason is physical changes - improvements or major damage. The most frequent reason is a change in the market.
What causes adjustments to millage rates?
Changes in millage rates occur under four circumstances: 1. if the voters approve a millage increase, 2. if the legislature approves the creation of a special district and grants authority to levy a millage, 3. if the Board of Liquidation/City Debt adjusts the millage rate to collect the amount required to service its general obligation bonds; When new bonds are issued, this millage rate increases, and as older bonds mature, this millage rate decreases., and 4. re-assessment.
Why do assessed values differ from the assessor's estimate of actual (market) value?
Assessed values differ from the market value of a property for 3 main reasons: 1. fractional assessment ratios, 2. partial exemptions, and 3. decisions by assessing officials to override market value.
What if I disagree with the assessor's value of my property? If so, how do I appeal to the LA Tax Commission?
If you disagree with the value placed on your property, and you wish to protest the value even after discussing it with the assessor, you must fill out the "Notice of Appeal Request For Board of Review" and schedule an appearance before the parish Board of Review hor hearing(s) held for this purpose. The Board of Review will determine if any changes should be made to the assessment values in question. If either the assessor or the taxpayer is not satisfied with the decision of the Board of Review, either may fill out an "Appeal Form" for further review by the Louisiana Tax Commission. The Louisiana Tax Commission will consider any and all appeals that are timely filed in hearings that are open to the public. The assessor, parish Board of Review, and the Louisiana Tax Commission can be contacted for information on procedures, dates, and places of hearings.
Who must report business personal property?
Every person, association, company, or corporation who will own or hold, subject to his/her control, any tangible or intangible business personal property is required to report said property for assessment every year.
How are public utilities valued in LA?
Public Utilities are valued by the Louisiana Tax Commission using the unit methodology which includes cost, income, and market approaches.
How long/when are the books available for public review?
The assessment lists have to be open for public inspection for 15 days. These 15 days of open books occur sometime between August 15 and September 15 every year.