Louisiana Revised Statutes 47:1854 – Assessment
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Terms Used In Louisiana Revised Statutes 47:1854
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Public service properties: means the immovable, major movable, and other movable property owned or used but not otherwise assessed in this state in the operations of each airline, electric membership corporation, electric power company, express company, gas company, pipeline company, railroad company, telegraph company, telephone company, and water company. See Louisiana Revised Statutes 47:1851
All public service properties shall be assessed for taxation in accordance with the provisions of thethe Louisiana Constitution of 1974. Land shall be assessed at ten percent of fair market value; electric cooperative properties shall be assessed at fifteen percent of fair market value; and all other properties shall be assessed at twenty-five percent of fair market value.
Added by Acts 1976, No. 703, §1. Amended by Acts 1980, No. 602, §1; H.C.R. No. 88, 1993 R.S., eff. May 30, 1993; H.C.R. No. 1, 1994 R.S., eff. May 11, 1994.