Louisiana Administrative Code
Title 61 - REVENUE AND TAXATION
Part V - Ad Valorem Taxation
Chapter 13 - Pipelines
Section V-1305 - Reporting Procedures

A. Each pipe size, type and length in miles must be reported separately.

B. Each form will cover four listings with sufficient space provided to indicate location of each, viz: from lease or facility to junctions of lines of other companies or to lines assessed by Louisiana Tax Commission, from ward line to ward line (according to taxing districts), etc.

C. Use schedules adopted by the Tax Commission and report cost per mile, calculate and extend "total replacement cost."

D. Year installed will determine tax age and percent good, unless conditions warrant change.

E. Refer to current cost tables (1307.A and 1307.B) and depreciation guidelines (Table 1307.C) adopted by the Louisiana Tax Commission. Yearly depreciation will be allowed, according to actual age, on an economic life of 26.5 years, however, as long as pipeline is in place and subject to operation, the remaining percent good shall not be lower than that allowed for the maximum actual age shown in Table 1307.C.

F. Assessment will be based on fair market value. Functional and/or economic obsolescence shall be considered in the analysis of fair market value as substantiated by the taxpayer in writing. Consistent with Louisiana R.S. 47:1957, the assessor may request additional documentation.

G. Pipeline sales, properly documented, should be considered by the assessor as the fair market value, provided the sale meets all tests relative to it being a valid sale.