LAC 61:V.105 – Constitutional Principles in Determination of Fair Market Value and Use of Reappraisal

A. The Louisiana Constitution establishes the basic principle in the following cases but each case requires statutory clarification.
1. 1. Fair market value shall be determined in accordance with criteria which shall be established by law and which shall apply uniformly throughout the state.
2. 2. All property subject to taxation shall be reappraised and valued at intervals of not more than four years.
B. These are the constitutional principles upon which property taxation is based in the state of Louisiana.

AUTHORITY NOTE: Promulgated in accordance with Louisiana Constitution of 1974, Article VII, §18.

HISTORICAL NOTE: Promulgated by the Department of Revenue and Taxation, Tax Commission, LR 8:102 (February 1982), amended LR 15:1097 (December 1989).