A property owner who questions and/or wants to change the assessment of this property that was made by the Parish Assessor can appeal to the Board of Review. If the property owner disagrees with the ruling of the Board of Review, the property owner can then appeal to the Louisiana Tax Commission (LTC). If still not satisfied with the assessment after the LTC’s ruling, the property own may then appeal to the court.
The Louisiana Constitution requires that the property be assessed at "Fair Market Value" (FMV). To determine FMV, Assessors and Boards look at 5 factors:
1. The selling price of comparable properties;
2. The cost to replace the property;
3. How much it takes to operate and keep the property in repair;
4. What rent the property may earn; and
5. Other economic factors affecting its value.
In reviewing an appeal of the assessed value, the Boards of Review consider three main types of evidence to determine whether or not the Assessor’s value should be upheld:
1. The recent sale price of the property being assessed;
2. The recent sale price of comparable properties in the area of the property being assessed; and
3. The opinion of a real estate professional as to the value of the property being assessed. Louisiana Legislative Auditor website: 09/04/2025 02:26:23 PM |