1. A. The taxable assessed value of each property to be determined by the commission in compliance with §3509 and delivered by the commission to each reporting municipal district/parish in the form of a supplement or change order to the regular tax roll shall be calculated as follows.

   1. 1. Exemption Percentages and Amounts. Purpose: calculate both the percentage and the dollar amount of the Tulane exemption applicable to land and both the percentage and the dollar amount of the Tulane exemption applicable to improvements:

      1. a. (FMV Land Statewide) (x) (Land Assessment Ratio) (=) (Land Assessed Value Statewide)
      2. b. (FMV Improvements Statewide) (x) (Improvement Assessment Ratio) (=) (Improvement Assessed Value Statewide)
      3. c. (Land Assessed Value Statewide) (+) (Improvement Assessed Value Statewide) (=) (Total Assessed Value Statewide)
      4. d. (Land Assessed Value Statewide) (÷) (Total Assessed Value Statewide) (=) (Land Exemption Percentage Statewide)
      5. e. (Improvement Assessed Value Statewide) (÷) (Total Assessed Value Statewide) (=) (Improvement Exemption Percentage Statewide)
      6. f. (Land Exemption Percentage Statewide) (x) (Tulane Exemption) (=) (Land Exemption Amount Statewide)
      7. g. (Improvement Exemption Percentage Statewide) (x) (Tulane Exemption) (=) (Improvement Exemption Amount Statewide)

   2. 2. Land. Purpose: calculate the assessed value of each land parcel after allocation of the Tulane exemption:

      1. a. (FMV each Land Parcel) (÷) (FMV Land Statewide) (=) (Land Parcel FMV %)
      2. b. (Land Parcel FMV %) (x) (Land Exemption Amount Statewide) (=) (Land Parcel FMV Reduction by Exemption)
      3. c. (FMV each Land Parcel) (-) (Land Parcel FMV Reduction by Exemption) (=) (Land Parcel FMV after Exemption Reduction)
      4. d. (Land Parcel FMV after Exemption Reduction) (x) (Land Assessment Ratio) (=) (Land Parcel Assessed Value after Exemption)

   3. 3. Improvements:

      1. a. (FMV each Improvement) (÷) (FMV Improvements Statewide) (=) (Improvement FMV %)
      2. b. (Improvement FMV %) (x) (Improvement Exemption Amount Statewide) (=) (Improvement FMV Reduction by Exemption)
      3. c. (FMV each Improvement) (-) (Improvement FMV Reduction by Exemption) (=) (Improvement FMV after Exemption Reduction)
      4. d. (Improvement FMV after Exemption Reduction) (x) (Improvement Assessment Ratio) (=) (Improvement Assessed Value after Exemption)

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:1837 and R.S. 47:1856.

Historical Note

HISTORICAL NOTE: Promulgated by the Department of Revenue, Tax Commission, LR 31:726 (March 2005), amended LR: 33:504 (March 2007).