Louisiana Administrative Code
Title 61 - REVENUE AND TAXATION
Part V - Ad Valorem Taxation
Chapter 1 - Constitutional and Statutory Guides to Property Taxation
Section V-118 - Data Collection by the Assessor
Current through Register Vol. 50, No. 3, March 20, 2024
A. The assessor may use self-reporting forms, as approved and adopted by the Louisiana Tax Commission or its successors, to gather data necessary to determine fair market value. A self-reporting form shall be returned to the assessor by the first day of April, or 45 days after receipt, whichever is later.
B. By failing to file a report when it is due, a property owner loses the right to appeal the appraisal by the assessor (R.S. 47:2329). If the failure to file is intentional, a penalty of 10 percent of the tax due shall be imposed [R.S. 47:2330(A)]. If a taxpayer files a false report with the intent to defraud, a penalty of 10 percent of the tax due shall be imposed.
C. The assessor shall collect market sales, cost, and income data in determining fair market value.
AUTHORITY NOTE: Promulgated in accordance with R.S. 47:2324, R.S. 47:2329 and R.S. 47:2330.
