Industrial ExemptionAs an inducement for industries to locate in Louisiana or to expand their present facilities, a ten-year exemption from property taxes for certain new facilities may be secured. The exemption is for the "contract" value of buildings or equipment used by a business. When the exemption expires, the property is to be placed on the tax rolls at 15% of its then current market value.
Applicants applying for and receiving exemptions from local taxes must make a good faith effort to give consideration to the use of Louisiana manufacturers and labor in the construction and acquisition of the proposed tax exempt property, except where not reasonably possible.
The terms "manufacturing establishment" and "addition", as used herein, mean a new plant or addition to any existing plant or equipment which engage in the business of working raw materials into wares suitable for use. Land does not qualify for an exemption.
The program is administered by the Louisiana Office of Commerce and Industry. For more information contact:
Louisiana Department of Economic Development
Office of Commerce and Industry
P. O. Box 94185
Baton Rouge, LA 70804
Phone: (225) 342-9218