La. Admin. Code tit. 61 § V-2715

Current through Register Vol. 50, No. 6, June 20, 2024

Section V-2715 - Assessment of Marsh Land

A. Use Value Table 2717.C.1 and 3 presents the guidelines for determining the assessed value of all bona fide marsh land.

B. The assessor of each parish containing bona fide marsh land shall determine the use value of such land as defined in R.S. 47:2302 and shall assess such land on the basis of its highest use value. In determining the use value of such lands, the assessors shall utilize the use value table prepared by the Tax Commission, which shall be applied uniformly statewide.

C. The table prepared by the Tax Commission shall define each different classification of marshland, a range of production within each class and the range of returns based upon the past four year averages.

D. In preparing the use value table for marshland, the Tax Commission shall consider the following factors:

1. classification of the marshland as either freshwater, brackish, or saltwater marshland;

2. the income that may be produced within each class;

3. income derived from the traditional use of such marshland, as such uses are enumerated in R.S. 47:2301;

4. physical and economic risks attendant thereto;

5. prevailing interest rates;

6. liquidity of investments;

7. federal and state regulatory authority governing use of such marshland.

La. Admin. Code tit. 61, § V-2715

Promulgated by the Department of Revenue and Taxation, Tax Commission, LR 8:102 (February 1982), amended LR 9:69 (February 1983), LR 12:36 (January 1986), LR 22:117 (February 1996).

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:2307.