Current through Register Vol. 50, No. 9, September 20, 2024
A. The
appropriate self-reporting Personal Property Report Form, is to be forwarded
each year, on or before February 15 in the year in which the property is to be
appraised, to each person in whose name the property is assessed. Upon
completion, the property owner shall return the form to the assessor by the
first day of April of that year or 45 days after receipt, whichever is later
Prior to the deadhne for filing a complaint with the Board of Review provided
for in R.S. 47:1992, the property owner
shall also submit to the assessor, or the designee contracted by the assessor,
any and all additional documentation and information the property owner beheves
is relevant to the determination of fair market value of the reported property.
Nothing in these Rules prohibits a taxpayer/property owner from arguing that
the tables fail to achieve fair market value in a particular appeal or that
another approach to value is appropriate to achieve fair market value in a
particular appeal. It is the party seeking a deviation from the tables or for a
reduction for its property based on obsolescence who has the burden of
producing sufficient data and information to substantiate its claim. The
assessor shall legitimately consider all evidence and information submitted or
publicly available to the assessor, including the consideration of functional
and/or economic obsolescence. The assessor shall request additional
documentation from the taxpayer if the assessor determines that the
documentation submitted by the taxpayer is insufficient. The assessor shall
promptly respond to a taxpayer's request for a reduction in value and/or
obsolescence. Both the assessors and taxpayers are expected and ordered to act
in good faith on issues concerning personal property renditions and requests
for a fair market value reduction based on obsolescence. On appeal to the Tax
Commission, the assessor shall be prepared to offer an articulated analysis for
the assessor's determination of value, including the consideration of
functional and/or economic obsolescence, and shall be prepared to offer an
articulated analysis for the assessor's evaluation of the sufficiency of the
taxpayer's documentation.
1. LAT Form 5,
Personal Property Report Form, should be furnished to all individuals,
partnerships, corporations, associations, etc., engaged in business and owning
personal property. After receiving completed personal property report forms
from any business that has consigned merchandise, or leased, loaned or rented
equipment, another LAT Form 5 should be sent to those companies owning such
property. Service station owners and all oil and gas related businesses should
refer to §903 for specific
instructions on completion of this form.
2. LAT Form 5A, Tax Exemption Analysis Form,
should be furnished, in addition to LAT Form 5, to all concerns enjoying a tax
exemption granted under Article VII, Section 21(F) of the Louisiana
Constitution.
3. LAT Form 6, Loan
and Finance Companies Form, should be furnished to all loan and finance
companies doing business in the parish or taxing district.
4. LAT Form 7, Cellular Industry Form, should
be furnished to all cellular industry companies doing business in the parish or
taxing district.
5. LAT Form 8,
Cable TV Industry Form, should be furnished to all cable television industry
companies doing business in the parish or taxing district.
6. LAT Form 10, Brine Operations Property
Form, should be furnished to all brine operation companies doing business in
the parish or taxing district.
7.
a. LAT Form 11, Watercraft, should be sent to
owners of watercraft domiciled in the parish and to all owners operating
watercraft out of the parish on the assessment date. This form should be used
as a supplement to LAT 5 for companies that own such property but are not
interstate towing or barge line companies, whose watercraft are assessed by the
Tax Commission as pubhc service properties.
i. local parish assessor;
ii. Department of Revenue and Taxation,
Secretary (pursuant to Act 59 of 1994); and
iii. local tax collector.
b. All forms shall bear original
signatures by the applicable taxpayer for certification purposes.
8. LAT Form 12, Oil and Gas
Property Form, should be sent to any company, business or individual having
such property in the parish or taxing district. Refer to the oil and gas
properties section (§903) for specific instructions on completion of this
form.
9. LAT Form 13, Drilling Rig
and Related Equipment Form, should be sent, in addition to LAT Form 5, to any
company, business or individual having such property in the parish or taxing
district. Refer to the drilling rigs and related equipment Section (§1101) for
specific instructions on completion of this form.
10. LAT Form 14, Pipelines Form, should be
furnished to all companies owning and/or operating pipelines other than
pipelines which are assessed as public service properties by the Tax
Commission. This form is considered to be a supplement to LAT Form 5 and LAT
Form 12. Refer to the pipelines Section (§1301) for specific instructions on
completion of this form.
11. LAT
Form 15, Aircraft Form, should be furnished to all individuals, partnerships,
corporations, associations, etc., owning and/or operating an aircraft in
Louisiana as of the assessment date. This form is considered to be a supplement
to LAT Form 5. Refer to the aircraft Section (§1501) for specific instructions
on completion of this form.
B. Forms Related Notations
1. The assessor shall request and receive
additional information, if needed, to determine fair market value under the
authority of
R.S.
47:1957 and as otherwise provided by
law.
2. Failure to submit required
forms is a waiver of the right to appeal assessed value (R.S.
47:1992.C and F,
R.S.
47:2329) and, may result in a penalty
(R.S.
47:2330.B).
3. False or fraudulent reporting may result
in a penalty (R.S. 47:2330.A).
AUTHORITY NOTE:
Promulgated in accordance with
R.S.
47:1837,
R.S.
47:2324 and
R.S.
47:2326.
