reglab/statecodes huggingface dataset:
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 2 - Policies and Procedures for Assessment and Change Order Practices › Section V-211 - Industrial Exemption Properties

Current through Register Vol. 50, No. 6, June 20, 2024
A. All property of manufacturing
				establishments with contracts for the exemption from ad valorem taxes with the
				State Board of Commerce and Industry, or its successor, with the approval of
				the governor and administered by the Department of Economic Development (DED),
				shall be listed as exempt at the appropriate exempt percentage, until such time
				as the contract has expired or is terminated.
B. Any property of manufacturing
				establishments subject to a contract for the exemption from ad valorem taxes
				with the State Board of Commerce and Industry, or its successor, shall be
				assessed under a separate/unique assessment number.
C. Property of manufacturing establishments
				subject to a contract for the exemption from ad valorem taxes with the State
				Board of Commerce and Industry, or its successor, shall be reported on the
				applicable reporting forms, and must include the following information:
1. contract number;
2. start and end dates of the
				contract;
3. penalty years (if
				applicable);
4. percent of
				exemption;
5. original contract
				amount;
6. revised contract amount
				(if applicable);
7. millages
				subject to exemption.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 3 - Real and Personal Property › Section V-303 - Real Property

Current through Register Vol. 50, No. 6, June 20, 2024
A. In
				making appraisals of any real property, including but not limited to
				residential, commercial and industrial land and improvements, the assessors
				shall follow the criteria and requirements in
				Section
				111 of the Tax Commission's Rules
				and Regulations.
B. The following
				procedure shall be used for assessing, listing and placing transferred property
				and property upon which improvements have been made after the date of the
				reappraisal as set by the Tax Commission:
1.
				Improvements shall be added to the rolls based upon the condition of things
				existing on January 1 of each year. The value of the improvements shall be in
				accordance with the uniform valuation date and quadrennial reappraisal cycle as
				determined by the Tax Commission.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 3 - Real and Personal Property › Section V-305 - Real Property Report Forms

Current through Register Vol. 50, No. 6, June 20, 2024
A. If
				an assessor chooses to use the self-reporting form, he shall furnish the
				appropriate self-reporting form for real property to each property owner within
				his respective parish or district, on or before February 15, in the year in
				which the property is to be appraised. Upon completion, the property owner
				shall return the form to the assessor by the first day of April of that year
				or, 45 days after receipt, whichever is later. The self-reporting forms are to
				assist the assessor in determining the fair market value of the real property
				and, if used, shall be delivered to each person in whose name the real property
				is assessed.
1. LAT 1, the Residential or
				Homeowner's Report Form, is to be used by the owner reporting any property that
				consists of land with improvements, whether urban or rural, and used for
				residential purposes. Space is also provided on this form to report
				improvements other than residences such as barns, sheds, storage bins, etc.
				This form is also to be used by the owner of any improvement that is located on
				land owned by someone other than the owner of the improvement.
2. LAT 2, the Land Report Form, is to be
				furnished to the owner of any parcel of vacant land. This form is also to be
				furnished, in addition to the Residential or Homeowner's Report Form, to each
				landowner with at least 3 acres of land, or with land that has produced an
				average gross annual income of at least $2,000 in one or more of the designated
				classifications for the four preceding years. The Land Report Form is not the
				application form for use value assessment. It is, however, to be used to serve
				notice of the requirements for obtaining a use value assessment.
3. LAT 3, the Apartment Report Form, in
				addition to the Land Report Form, is to be used by the owner of any apartment
				or residential complex that is not applicable to LAT1. If the land upon which
				the apartment is located is not owned by the apartment owner, the Land Report
				Form is not required to be sent to the apartment owner.
4. LAT 4, the Commercial and Industrial
				Report Form, is to be furnished to and used by the owner of any improvement of
				a commercial or industrial type.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 3 - Real and Personal Property › Section V-309 - Tax Commission Miscellaneous Forms

Current through Register Vol. 50, No. 6, June 20, 2024
A. TC Form 8, Agreement to Suspend
				Subscription of Ad Valorem Tax Form, should be used when audit or other
				circumstances deem it appropriate.
B. TC Form 9, Insurance Companies Form,
				should be sent to all property and casualty insurance companies, both foreign
				and domestic, licensed to write insurance in Louisiana.
C. TC Form 33, Abstract of Assessments Form,
				shall be annually completed and furnished to the Tax Commission by each parish
				assessor on or before the filing of the parish assessment rolls for
				certification by the Tax Commission.
D. TC Forms C01, C02, C03, C04A and C04B,
				should be used to electronically process change order requests submitted by tax
				assessor's offices.
1. All change order forms
				TC-21, Alpha 4 (Electronic), and/or LTC web site format shall be submitted in
				accordance with the provisions of Title 47, Sections 1835 The assessor shall
				provide each affected taxpayer with a copy of any change order that has been
				issued.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 5 - Loan and Finance Companies › Section V-501 - Guidelines for Ascertaining Fair Market Value of Loan and Finance Company Personal Property

Current through Register Vol. 50, No. 6, June 20, 2024
A. The
				taxable personal property of loan and finance companies includes office
				equipment, office furniture and fixtures, repossessed property and certain
				credits (loans which are not secured by property located in Louisiana; Column
				3, loans secured by personal endorsement; Column 5, and signature loans; Column
				6). Loans secured by mortgages on property located in Louisiana are exempted
				from taxation by authority of the Louisiana Constitution.
B. Each parish assessor shall provide loan
				and finance companies with copies of LAT Form 5 and LAT Form 6.
1. LAT Form 5 should be utilized to identify
				the existence and value of office furniture and equipment. When using the cost
				approach in appraisal of the property, these items are to be brought to present
				day values and depreciated according to the effective age of the items in
				compliance with the appropriate tables in
				§2503 for office equipment and office
				furniture and fixtures, respectively.
2. LAT Form 6 shall be utilized to identify
				and value repossessed property, which shall be assessed at 15 percent of fair
				market value. The value of repossessed property is determined in accordance
				with the appropriate Section of these rules and regulations.
3. LAT Form 6 shall also be utilized to
				identify and value taxable credits. Such credits shall be offset and lessened
				by the actual bona fide accounts payable, bills payable and other liabilities
				of a similar character (R.S.
				47:1962). This is accomplished by determining
				the percentage taxable receivables (sum of average of third, fifth and sixth
				columns on face of form) are to average total receivables, then deducting that
				percentage of allowable payables (sum of average of first, second and third
				columns on reverse of form) from total taxable receivables. This remainder
				shall be assessed at 15 percent of fair market value.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 7 - Watercraft › Section V-701 - Guidelines for Ascertaining Fair Market Value of Watercraft

Current through Register Vol. 50, No. 6, June 20, 2024
A. General.
				Watercraft, other than those employed in interstate commerce, are subject to
				valuation and assessment by parish assessors. Gasoline powered watercraft and
				vessels employed in fisheries activities for human consumption are exempt from
				property taxation. As with other forms of personal property, watercraft are to
				be taxed where situated on January 1. Fair market value is the standard for
				valuation of watercraft. The procedures for valuation of watercraft
				follow.
B. Valuation
1. Fair market value is the valuation
				standard for watercraft. When using the cost approach, the assessor shall
				estimate the fair market value of each vessel having situs in the assessor's
				parish through use of the information provided to the assessor on LAT Form 11.
				Taxpayers shall report the cost of the vessel.
2. The same procedure shall be used as for
				other forms of machinery and equipment. That is, cost of the vessel will be
				brought up to current value through use of the appropriate index and
				depreciated based on the effective age of the vessel. The appropriate cost
				index, percent good factors and composite multipliers appear in Tables 703.A.1,
				703.B.1 and 705.A.1. The composite multipliers are only to be used when the
				cost of the vessel is self-reported. When the cost of the vessel is not
				available, or the assessor finds the information to be unreliable, the assessor
				may utilize the base cost and depreciation schedules found in Tables 703.A.2,
				703.B.2 and 705.A.2. Obsolescence may be applied according to days worked as
				per Table 706. Consideration of additional obsolescence may be granted upon
				showing evidence of loss, substantiated by the taxpayer in writing.
3. Consideration of Obsolescence When Using
				the Cost Approach. Economic and/or functional obsolescence is a loss in value
				of personal property above and beyond physical deterioration. Upon a showing of
				evidence of such loss, substantiated by the taxpayer in writing, economic or
				functional obsolescence shall be given. If economic and/or functional
				obsolescence is not given when warranted, an appreciated value greater than
				fair market value may result.
4.
				Gulf of Mexico Watercraft Fleet. When determining the three approaches to
				value, the assessor may use a variable annual income approach, as compiled by a
				certified marine surveyor-appraisal company, at the request of the Louisiana
				Assessors' Association, for weighting and correlating current market conditions
				as a part of the fair market valuation process.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 7 - Watercraft › Section V-705 - Tables-Vessels

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Vessels-Crew-OSV/Supply-Utility
1. Table
				705.A.1
Table 705.A.1
Vessels-Crew-OSV/Supply-Utility
Cost Index Average
Average Economic Life 20
							 Years
Year
Index
Effective Age
Percent Good
Composite
							 Multiplier
2023
0.994
1
97
.96
2022
1.012
2
93
.94
2021
1.189
3
90
1.07
2020
1.292
4
86
1.11
2019
1.299
5
82
1.07
2018
1.346
6
78
1.05
2017
1.392
7
74
1.03
2016
1.420
8
70
.99
2015
1.408
9
65
.92
2014
1.421
10
60
.85
2013
1.440
11
55
.79
2012
1.452
12
50
.73
2011
1.493
13
45
.67
2010
1.540
14
40
.62
2009
1.528
15
35
.53
2008
1.572
16
31
.49
2007
1.634
17
27
.44
2006
1.723
18
24
.41
2005
1.803
19
22
.40
2004
1.939
20
21
.41
2003
2.006
21
20
.40
2.
				Table 705.A.2
Table 705.A.2
Vessels-Crew-OSV/Supply-Utility
Vessel Type/Size
Base Cost
Day Rate
2023 - 2020
2019 - 2016
2015 - 2012
2011 - 2008
2007 - 2004
2003 and Earlier
Physical
							 Depreciation
0.915
0.76
0.575
0.375
0.23
0.20
Crew
60'-70'
$2,100,000
2200
$1,921,500
$1,596,000
$1,207,500
$787,500
$483,000
$420,000
71'-99'
$2,200,000
2500
$2,013,000
$1,672,000
$1,265,000
$825,000
$506,000
$440,000
100'-119'
$3,200,000
2800
$2,928,000
$2,432,000
$1,840,000
$1,200,000
$736,000
$640,000
120'140'
$3,800,000
3200
$3,477,000
$2,888,000
$2,185,000
$1,425,000
$874,000
$760,000
141'-165'
$4,200,000
3600
$3,843,000
$3,192,000
$2,415,000
$1,575,000
$966,000
$840,000
165'+
$7,000,000
4200
$6,405,000
$5,320,000
$4,025,000
$2,625,000
$1,610,000
$1,400,000
OSV/Supply
110'-139'
$2,900,000
2000
$2,653,500
$2,204,000
$1,667,500
$1,087,500
$667,000
$580,000
140'-159'
$3,600,000
2750
$3,294,000
$2,736,000
$2,070,000
$1,350,000
$828,000
$720,000
160'-179'
$4,300,000
4000
$3,934,500
$3,268,000
$2,472,500
$1,612,500
$989,000
$860,000
180'-199'
$4,900,000
5000
$4,483,500
$3,724,000
$2,817,500
$1,837,500
$1,127,000
$980,000
200'-219'
$6,500,000
6000
$5,947,500
$4,940,000
$3,737,500
$2,437,500
$1,495,000
$1,300,000
220'-230'
$7,500,000
6250
$6,862,500
$5,700,000
$4,312,500
$2,812,500
$1,725,000
$1,500,000
231'-279'
$8,500,000
6500
$7,777,500
$6,460,000
$4,887,500
$3,187,500
$1,955,000
$1,700,000
280'-299'
$12,200,000
10000
$11,163,000
$9,272,000
$7,015,000
$4,575,000
$2,806,000
$2,440,000
300'-319'
$18,000,000
12000
$16,470,000
$13,680,000
$10,350,000
$6,750,000
$4,140,000
$3,600,000
320' +
$22,000,000
14000
$20,130,000
$16,720,000
$12,650,000
$8,250,000
$5,060,000
$4,400,000
Utility
119' & Below
$1,137,000
3000
$1,040,355
$864,120
$653,775
$426,375
$261,510
$227,400
120'-139'
$1,606,000
3250
$1,469,490
$1,220,560
$923,450
$602,250
$369,380
$321,200
140'-165'
$3,078,000
3500
$2,816,370
$2,339,280
$1,769,850
$1,154,250
$707,940
$615,600
165' +
$3,500,000
4000
$3,202,500
$2,660,000
$2,012,500
$1,312,500
$805,000
$700,000
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 7 - Watercraft › Section V-706 - Table-Economic Obsolescence

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Economic Obsolescence for Days Worked
Table 706 Economic
						  Obsolescence for Days Worked
No. of Days Worked
Obsolescence Amount
Manual Adj. Factor
329 and Over
0
1.00
274 to 328
10%
.90
219 to 273
20%
.80
164 to 218
30%
.70
111 to 163
40%
.60
54 to 110
50%
.50
Less than 53
60%
.40
Stacked Current Year
75%
.25
Stacked More Than One Year
90%
.10
AUTHORITY NOTE:
				  Promulgated in accordance with La. Const. of 1974, Article VII, §18 and §21,
				  R.S.
				  47:1837 and
				  R.S.
				  47:2323.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 9 - Oil and Gas Properties › Section V-901 - Guidelines for Ascertaining the Fair Market Value of Oil and Gas Properties

Current through Register Vol. 50, No. 6, June 20, 2024
A. The assessment
				of oil and gas properties shall be made in accordance with the Louisiana
				Constitution of 1974, Article VII, Section 18; Louisiana Constitutional
				Amendment 2 concerning Article VII, Section 4(B), approved November 3, 2020;
				and in accordance with guidelines adopted by the Tax Commission and applied
				uniformly throughout the state.
B.
				The Well
1. The well includes all of the
				equipment and any other taxable property located below the wellhead, as well as
				the casinghead, wellhead and/or xmas tree.
2. For assessment purposes, the well shall
				also be construed to include surface equipment items more or less permanently
				attached to the well necessary for the oil and gas and related hydrocarbons to
				be produced and reach the point of custody transfer or first point of sale or
				gathering operation (i.e. leasehold equipment or "production train", see
				Explanations below).
3. Each
				well/lease/field is assessed in accordance with guidelines establishing "fair
				market value".
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 9 - Oil and Gas Properties › Section V-903 - Instructions for Reporting Oil and Gas Properties

Current through Register Vol. 50, No. 6, June 20, 2024
A. A separate LAT-12 form is used for each
				well lease or facility represented by a LUW (Lease, Unit, or Well) code, a
				six-digit code assigned by the Office of Conservation for the purpose of
				recording production. An attachment in lieu of the form is permitted only if
				information is in the same sequence. The LAT-12 form may be reproduced and used
				as an attachment; however, all attachments must be properly identified and
				attached to the original.
1. Wells under the
				same assessment number are required to be listed in serial number
				order.
2. All additional supporting
				documentation is recommended to be attached to the LAT-12 in an order that
				allows for ease of review by the assessor.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 9 - Oil and Gas Properties › Section V-905 - Reporting Procedures

Current through Register Vol. 50, No. 6, June 20, 2024
A. Oil, Gas,
				Associated Wells, and Related Production Equipment (Production Train), see
				guidelines adopted by the Louisiana Tax Commission and report in accordance
				with form requirements or as otherwise outlined in this chapter.
1. A data template corresponding to a DCF
				model as adopted by the Louisiana Tax Commission shall be completed by the
				operator with the following information:
a.
				level of detail being provided (well/lease/LUW, etc.) and appropriate
				identifying name(s), number(s), LUW codes, etc;
b. primary product being produced (oil or
				gas);
c. total decimal ownership of
				the working interest (WI) in the assets to be assessed (typically +/-
				0.75000);
d. total number of wells
				to be represented in the DCF;
e.
				average total depth of the wells represented in the DCF;
f. previous year average price (dollars per
				barrel for oil or dollars per mcf for gas);
g. severance tax rate(s) being assessed
				against the well(s) by the Louisiana Department of Revenue;
h. recurring direct operating expense
				commensurate to the level of detail (well/lease/LUW) represented in the
				DCF;
i. amount of capital
				expenditures (capex) anticipated to be incurred as of the assessment date
				(January 1) and cause and timing thereof;
j. salvage value of specialized leasehold
				equipment, if any, not considered part of a typical production train.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 10 - Brine Operation Properties › Section V-1001 - Guidelines for Ascertaining the Fair Market Value of Brine Operation Properties

Current through Register Vol. 50, No. 6, June 20, 2024
A. The assessment
				of brine operation properties shall be made in accordance with the Louisiana
				Constitution of 1974, Article VII, Section 18, and in accordance with
				guidelines adopted by the Tax Commission and applied uniformly throughout the
				state.
B. The Well
1. The well includes all the equipment and
				any other taxable property located below the wellhead, as well as the
				casinghead, wellhead and/or xmas tree.
2. Each string of casing runs from the
				surface down. There will always be at least two sizes of casing; the surface
				pipe which seals off freshwater zones, and the production string. The larger
				surface pipe usually extends only a few feet, depending on the depth of usable
				underground water, while the small production string extends to the depth of
				the brine operation formations. However, in some wells, and, in particular the
				deeper wells, it may be necessary to set more than two strings of casing, each
				of which extends to a specific depth.
3. Each well is assessed in accordance with
				guidelines establishing "fair market value".
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 10 - Brine Operation Properties › Section V-1003 - Instructions for Reporting Brine Operation Properties

Current through Register Vol. 50, No. 6, June 20, 2024
A. A separate LAT-10 form is used for each
				lease or facility. An attachment in lieu of the form is permitted only if
				information is in the same sequence. The LAT-10 form may be reproduced and used
				as an attachment; however, all attachments must be properly identified and
				attached to the original.
1. Wells under the
				same assessment number are required to be listed in serial number
				order.
2. All additional supporting
				documentation is recommended to be listed in serial number order.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 10 - Brine Operation Properties › Section V-1005 - Reporting Procedures

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Brine Operation Wells-Property Class #1-see guidelines adopted by the Louisiana
				Tax Commission and report in accordance with form requirements or as outlined
				above.
B. Surface Equipment
1. See guidelines adopted by the Louisiana
				Tax Commission. Various sizes, items, etc. may not be commingled into one
				category or value. Property must be grouped, totaled, and included in summary
				according to the following property classes:
2. Property Class #2-Process Equipment-major
				items of equipment are shown as a schedule item. For other equipment (not
				included as a schedule item), year of construction or purchase, original cost
				and composite multiplier must be shown and used to determine fair market value.
				Refer to composite multipliers in the general business section (Chapter 25) of
				these guidelines.
3. Property Class
				#3-Tanks-see schedule for type, size, unit cost, etc.
4. Property Class #4-Lease Lines
a. Steel: Up through 6" in diameter-see
				schedule. For larger sizes-see schedule in pipelines section (Chapter 13) and
				use LAT-14 form.
b. Plastic: Up
				through 6" in diameter-see schedule.
5. Property Class #5-Inventories
a. may be reported as a total accumulated
				cost in the fair market value column-with property description and on
				appropriate LAT form.
b. Material
				and Supplies:
i. located on lease or
				facility-use LAT-10 form;
ii.
				located at a public or private storage-use LAT-5 form (Sec. 1).
c. Pipe Stock-report footage or
				tonnage in unit column (indicating measurement) cost per unit measurement in
				unit value column and extend total fair market value.
i. located on lease or facility-use LAT-10
				form;
ii. located at a public or
				private storage-use LAT-5 form (Sec. 1).
d. Pipe Stock-exempt under La. Const., Art.
				VII, §21(D-3)-use LAT-5 form (Sec. 1).
6. Property Class #6-Field
				Improvements-docks, lease buildings, equipment sheds and buildings, warehouses,
				land, and leasehold improvements, etc.-furnish year constructed and cost. Use
				composite multiplier from appropriate table on original cost and extend fair
				market value for each.
7. Property
				Class #7-Other Property-on lease or producing facilities, but not included in
				the above classes viz:
a. furniture and
				fixtures-may be reported as a total cost with the composite multiplier from the
				appropriate table on original cost. Report such property on LAT-10 form (Brine
				Operation Property).
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 10 - Brine Operation Properties › Section V-1007 - Valuation of Brine Operation Wells

Current through Register Vol. 50, No. 6, June 20, 2024
A. The Cost-New
				schedules below cover only that portion of the well subject to ad valorem
				taxation. Functional and/or economic obsolescence shall be considered in the
				analysis of fair market value as substantiated by the taxpayer in writing.
				Consistent with Louisiana
				R.S.
				47:1957, the assessor may request additional
				documentation.
B. Instructions for
				Use of Table 1007.B and Procedure for Arriving at Assessed Value
1. Multiply the appropriate percent good
				factor based on age of the well as found in Table 1007.C.
2. Use cost-new to assess all active
				wells.
3. For wells recompleted,
				use new long-string casing depth to determine fair market value.
4. Adjustments for Allowance of Economic
				Obsolescence
a. All active service wells (i.e.
				salt water disposal, water source, etc.) shall be allowed a 40 percent
				reduction.
b. All inactive
				(shut-in) wells shall be allowed a 90 percent reduction.
c. Deduct any additional obsolescence that
				has been appropriately documented by the taxpayer, as warranted, to reflect
				fair market value.
d. Sales,
				properly documented, should be considered by the assessor as fair market value,
				provided the sale meets all tests relative to it being a valid sale.
5. Multiply depth of well by
				appropriate 15 percent of Cost-New amount as indicated in Table
				1007.B.
6. Brine Operation Wells:
				All Regions-Louisiana
Table 1007.B
Brine Operation Wells All
							 Regions-Louisiana
Producing Depths
Cost-New by depth, per foot for
							 Brine Operation Wells
Cost @ 100%
15% Assessed
0 - 1,249 ft.
S 163.31
$ 24.50
1,250 - 2,499 ft.
$ 120.98
$ 18.15
2,500 - 3,749 ft.
$ 118.13
$ 17.72
3,750 - 4,999 ft.
$ 104.13
$ 15.62
5,000 - 7,499 ft.
$ 142.25
$ 21.34
7,500 - 9,999 ft.
$ 194.06
$ 29.11
10,000 - 12,499 ft.
$ 264.61
$ 39.69
12,500 - 14,999 ft.
$ 347.13
$ 52.07
15,000 - 17,499 ft.
$ 562.28
$ 84.34
17,500 - 19,999 ft.
$ 686.51
$ 102.98
20,000 Deeper ft.
$ 366.58
$ 54.99
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 11 - Drilling Rigs and Related Equipment › Section V-1101 - Guidelines for Ascertaining the Fair Market Value of Drilling Rigs and Related Equipment

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				General. The standard for valuation of drilling rigs and related equipment is
				fair market value. Assessors are to valuate and assess each drilling rig
				individually with the appropriate allowance provided for depreciation and
				obsolence where necessary. The recommended procedures for discovery and
				valuation of drilling rigs follow.
B. Discovery. Each assessor is to assess
				those drilling rigs located in his parish as of January 1, each year. Discovery
				of drilling rigs operating in a parish is the responsibility of the parish tax
				assessor. Personnel of each parish assessor's office should use a visual survey
				or other method to establish the name and location of drilling rigs operating
				in a particular parish on the first of the year. The parish assessor should
				then contact the drilling contractor to determine if a drilling rig is
				currently located on the site. The drilling contractor should then be provided
				a notification of the assessor's intent to assess the drilling rig and a copy
				of LAT Form 13. The drilling contractor should also be provided a copy of LAT
				Form 5 on which to record the name and address of owners of leased equipment
				and inventories located on the drill site such as equipment buildings, cement,
				etc.
C. Valuation. The valuation
				standard for drilling rigs and related equipment is fair market value. Fair
				market value for drilling rigs and related equipment, when using the cost
				approach, is to be achieved through use of the information provided the
				assessor on LAT Form 13. The assessor shall take the depth of operating
				capability or engine rated horsepower and apply the appropriate assessment of
				the drilling rig as presented in Table 1103.A, 1103.B, 1103.C or 1103.D, as
				appropriate.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  47:1837 and
				  R.S.
				  47:2326.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 11 - Drilling Rigs and Related Equipment › Section V-1103 - Drilling Rigs and Related Equipment Tables

Current through Register Vol. 50, No. 6, June 20, 2024
A. Land Rigs
Table 1103.A
Land Rigs
Depth "0" to 7,000
							 Feet
Depth (Ft.)
Fair Market Value
Assessment
$
$
3,000
216,400
32,500
4,000
290,500
43,600
5,000
295,500
44,300
6,000
316,800
47,500
7,000
408,500
61,300
Depth 8,000 to 10,000 Feet
Depth (Ft.)
Fair Market Value
Assessment
$
$
8,000
597,500
89,600
9,000
888,600
133,300
10,000
1,269,000
190,400
Depth 11,000 to 15,000 Feet
Depth (Ft.)
Fair Market Value
Assessment
$
$
11,000
1,712,700
256,900
12,000
2,185,300
327,800
13,000
2,648,700
397,300
14,000
3,065,700
459,900
15,000
3,404,300
510,600
Depth 16,000 to 20,000 Feet
Depth (Ft.)
Fair Market Value
Assessment
$
$
16,000
3,642,900
546,400
17,000
3,774,400
566,200
18,000
3,811,300
571,700
19,000
3,789,700
568,500
20,000
3,774,700
566,200
Depth 21,000 + Feet
Depth (Ft.)
Fair Market Value
Assessment
$
$
21,000
3,864,400
579,700
25,000 +
3,984,900
597,700
1. Barges
				(Hull)-Assess Barges (Hull) at 25 percent of the assessment for the rig value
				bracket, and add this to the proper rig assessment to arrive at total for barge
				and its drilling rig.
2. Living
				quarters are to be assessed on an individual basis.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 13 - Pipelines › Section V-1301 - Guidelines for Ascertaining the Fair Market Value of Pipelines

Current through Register Vol. 50, No. 6, June 20, 2024
A. General
1. Pipelines, except those regulated
				pipelines, which are assessed as public service properties as provided by
				R.S.
				47:1851(K), are to be
				assessed by parish assessors. Two separate classes of pipelines are identified
				because of differences in function, design and quality. The two classes are
				"lease lines," which are generally of lower quality, subject to changes in
				routes, etc.; and, "other pipelines," which are generally larger and of higher
				quality.
2. Both classes of
				pipelines are to be assessed in the taxing district where located. A copy of
				LAT Form 14 is to be provided the pipeline owner. Surface equipment associated
				with pipelines (compressor stations, booster stations, etc.) are to be reported
				separately on LAT Form 5. Surface pipeline related equipment is to be valued
				individually at cost factored to current value less physical deterioration.
				Pipelines are to be valued for assessment purposes at cost less physical
				deterioration. A cost schedule is provided for the various sizes of "other
				pipelines" (See Tables 1307.A and B). Represented in these schedules is the
				cost-new, as of the appropriate assessment date, for the different size
				pipelines. This cost is to be reduced for the appropriate allowance for
				physical deterioration (See Table 1307.C), based on the age of the pipeline, by
				multiplying replacement cost by the appropriate percent good factor. Functional
				and/or economic obsolescence shall be considered in the analysis of fair market
				value as substantiated by the taxpayer in writing. Consistent with Louisiana
				R.S.
				47:1957, the assessor may request additional
				documentation.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 13 - Pipelines › Section V-1303 - Instructions for Reporting "Other Pipelines"

Current through Register Vol. 50, No. 6, June 20, 2024
A. A separate LAT-14 form must be used for
				each ward and tax district (viz., levee districts, drainage districts, special
				district, etc.-ward). An attachment in lieu of the form is permitted only if
				information is in the same sequence. The LAT-14 form may be reproduced and used
				as an attachment. However, all attachments must be properly identified and
				attached to the original which is signed and dated.
B. If information is not complete and the
				LAT-14 form is not properly prepared, report will be returned for further
				compliance.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  47:1837 and
				  R.S.
				  47:2326.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 13 - Pipelines › Section V-1305 - Reporting Procedures

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Each pipe size, type and length in miles must be reported separately.
B. Each form will cover four listings with
				sufficient space provided to indicate location of each, viz: from lease or
				facility to junctions of lines of other companies or to lines assessed by
				Louisiana Tax Commission, from ward line to ward line (according to taxing
				districts), etc.
C. Use schedules
				adopted by the Tax Commission and report cost per mile, calculate and extend
				"total replacement cost."
D. Year
				installed will determine tax age and percent good, unless conditions warrant
				change.
E. Refer to current cost
				tables (1307.A and 1307.B) and depreciation guidelines (Table 1307.C) adopted
				by the Louisiana Tax Commission. Yearly depreciation will be allowed, according
				to actual age, on an economic life of 26.5 years, however, as long as pipeline
				is in place and subject to operation, the remaining percent good shall not be
				lower than that allowed for the maximum actual age shown in Table
				1307.C.
F. Assessment will be based
				on fair market value. Functional and/or economic obsolescence shall be
				considered in the analysis of fair market value as substantiated by the
				taxpayer in writing. Consistent with Louisiana
				R.S.
				47:1957, the assessor may request additional
				documentation.
G. Pipeline sales,
				properly documented, should be considered by the assessor as the fair market
				value, provided the sale meets all tests relative to it being a valid
				sale.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  47:1837.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 13 - Pipelines › Section V-1307 - Pipeline Transportation Tables

Current through Register Vol. 50, No. 6, June 20, 2024
A. Current
				Costs for Other Pipelines (Onshore)
Table 1307.A
Current Costs for Other
							 Pipelines (Onshore)
Diameter (inches)
Cost per Mile
15% of Cost per
							 Mile
2
$ 258,780
$ 38,820
4
305,690
45,850
6
361,110
54,170
8
426,570
63,990
10
503,900
75,590
12
595,250
89,290
14
703,160
105,470
16
830,630
124,590
18
981,210
147,180
20
1,159,080
173,860
22
1,369,200
205,380
24
1,617,410
242,610
26
1,910,620
286,590
28
2,256,980
338,550
30
2,666,130
399,920
32
3,149,450
472,420
34
3,720,380
558,060
36
4,394,820
659,220
38
5,191,520
778,730
40
6,132,650
919,900
42
7,244,390
1,086,660
44
8,472,080
1,270,810
46
9,755,190
1,463,280
48
11,344,510
1,701,680
NOTE: Excludes river and canal crossings. For river and canal
				  crossings, apply a factor of 2.0 to Cost Per Mile figures in table
				  above.
B. Current Costs for
				Other Pipelines (Offshore)
Table 1307.B
Current Costs for Other
							 Pipelines (Offshore)
Diameter (inches)
Cost per Mile
15% of Cost per
							 Mile
2
$ 1,509,150
$ 226,370
4
1,515,160
227,270
6
1,530,430
229,560
8
1,553,920
233,090
10
1,583,120
237,470
12
1,626,050
243,910
14
1,674,550
251,180
16
1,736,560
260,480
18
1,812,080
271,810
20
1,901,130
285,170
22
2,003,690
300,550
24
2,119,770
317,970
26
2,249,360
337,400
28
2,392,480
358,870
30
2,549,100
382,370
32
2,719,250
407,890
34
2,902,910
435,440
36
3,100,090
465,010
38
3,310,790
496,620
40
3,535,000
530,250
42
3,772,730
565,910
44
4,023,970
603,600
46
4,288,730
643,310
48
4,567,010
685,050
C.
				Pipeline Transportation Allowance for Physical Deterioration (Depreciation)
Table 1307.C
Pipeline Transportation
							 Allowance for Physical Deterioration (Depreciation)
Actual Age (Yrs)
26.5 Year Life Percent
							 Good
1
98
2
96
3
94
4
91
5
88
6
86
7
83
8
80
9
77
10
73
11
70
12
67
13
63
14
60
15
56
16
52
17
48
18
44
19
39
20
35
21
33
22
30
23
28
24
26
25
25
26
23
27 and older
20 *
*Reflects residual or floor rate.
NOTE: See
				  §1305.G (page PL-3) for
				  method of recognizing economic obsolescence.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  47:1837 and
				  R.S.
				  47:2323.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 15 - Aircraft › Section V-1501 - Guidelines for Ascertaining the Fair Market Value of Aircraft

Current through Register Vol. 50, No. 6, June 20, 2024
A. General
1. Airplanes and helicopters, except those
				owned by a company engaged in the business of transporting passengers and/or
				property for hire on regularly scheduled flights, which are assessed as public
				service properties, are subject to valuation and assessment by parish
				assessors.
2. Antique airplanes,
				those manufactured at least 25 years ago, and not being used in commerce, are
				exempt from personal property taxes. Any aircraft weighing less than 6,000
				pounds, which is owned by a private individual and not used for commercial or
				profit-making purposes is also exempt from personal property taxes
				(R.S.
				47:6001).
3. Crop dusting airplanes used exclusively
				for agricultural purposes are exempt from personal property taxes
				(R.S.
				47:1707).
4. As with other forms of personal property,
				aircraft are to be taxed where situated on January 1. Fair market value is the
				standard for valuation of aircraft. When determining the three approaches to
				value, the assessor may use any industry-recognized manual/manuals for
				weighting and correlating current market conditions as a part of the fair
				market valuation process. The procedures for discovery and valuation of
				aircraft follow.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 15 - Aircraft › Section V-1503 - Aircraft (Including Helicopters) Table

Current through Register Vol. 50, No. 6, June 20, 2024
A. Aircraft
				(Including Helicopters)
Table 1503
Aircraft (Including
							 Helicopters)
Cost Index
							 (Average)
Average Economic Life (20
							 Years)
Year
Index
Effective Age
Percent Good
Composite
							 Multiplier
2023
0.994
1
97
.96
2022
1.012
2
93
.94
2021
1.189
3
90
1.07
2020
1.292
4
86
1.11
2019
1.299
5
82
1.07
2018
1.346
6
78
1.05
2017
1.392
7
74
1.03
2016
1.420
8
70
.99
2015
1.408
9
65
.92
2014
1.421
10
60
.85
2013
1.440
11
55
.79
2012
1.452
12
50
.73
2011
1.493
13
45
.67
2010
1.540
14
40
.62
2009
1.528
15
35
.53
2008
1.572
16
31
.49
2007
1.634
17
27
.44
2006
1.723
18
24
.41
2005
1.803
19
22
.40
2004
1.939
20
21
.41
2003
2.006
21
20
.40
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  47:1837 and
				  R.S.
				  47:2323.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 15 - Aircraft › Section V-1504 - Aircraft (Including Helicopters) Table

Current through Register Vol. 50, No. 6, June 20, 2024
Table 1504 Economic
						  Obsolescence for Days Contracted
No. of Days Worked
Obsolescence Amount
Manual Adj. Factor
329 ... Over
0
100
274 to 328
10%
90
219 to 273
20%
80
164 to 218
30%
70
111 to 163
40%
60
54 to 110
50%
50
Less than 53
60%
40
Table 1504 Economic
						  Obsolescence for Days Contracted
No. of Days Worked
Obsolescence Amount
Manual Adj. Factor
Grounded Current Year
75%
.25
Grounded More Than One Year
90%
.10
AUTHORITY NOTE:
				  Promulgated in accordance with La. Const, of 1974, Article VH, §18 and §21,
				  R.S.
				  47:1837 and
				  R.S.
				  47:2323.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 17 - Inventories › Section V-1701 - Guidelines for Ascertaining the Fair Market Value of Inventories

Current through Register Vol. 50, No. 6, June 20, 2024
A. Definition of
				Inventory. The term
inventory
is defined as the aggregate of
				those items of tangible personal property which are:
1. held for sale in the ordinary course of
				business;
2. are currently in the
				process of production for subsequent sale;
3. are ultimately to be consumed in the
				production of the goods or services to be available for sale; or
4. are utilized in marketing or distribution
				activities.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 17 - Inventories › Section V-1703 - Addendum

Current through Register Vol. 50, No. 6, June 20, 2024
A. Addendum for
				Record Requirements
1. Proper records require
				that in addition to the above stated, should also include, but, is not limited
				to, a copy of the following:
a. the annual
				report for the business;
b. federal
				income tax return;
c. Louisiana
				state income tax return;
d. dealer
				manufacturer's operating reports- monthly;
e. floor plan statements-monthly;
f. insurance valuations and
				policies;
g. other inventory
				reports filed with state agencies-monthly e.g. (La. Dept. of Natural Resources
				Reports R-2, R-3, R-5T and R-6).
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 19 - Leasehold Improvements › Section V-1901 - Guidelines for Ascertaining the Fair Market Value of Leasehold Improvements

Current through Register Vol. 50, No. 6, June 20, 2024
A. Leasehold
				improvements are expenditures by the lessee to property of the lessor to make
				the property adaptable to the lessee's use. Such expenditures can be either
				real or personal property in nature.
B. Expenditures classified as real property
				shall be assessed like all other real property.
C. For expenditures classified as personal
				property, the fair market value shall be determined in the same manner as
				machinery and equipment, office furniture and fixtures, and other personal
				property of businesses. Refer to the guidelines for ascertaining the fair
				market value of office furniture and equipment, machinery and equipment, and
				other assets used in §2501
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  47:1837 and
				  R.S.
				  47:2323.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 19 - Leasehold Improvements › Section V-1903 - Reporting and Assessment of Leasehold Improvements

Current through Register Vol. 50, No. 6, June 20, 2024
A. Leasehold improvements shall be reported
				by and assessed to the lessee in the taxing district where the property is
				located as of January 1 (August 1 for Orleans Parish) of each year.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  47:1952.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 21 - Leased Equipment › Section V-2101 - Guidelines for Ascertaining the Fair Market Value of Leased Equipment

Current through Register Vol. 50, No. 6, June 20, 2024
A. All leased
				personal property shall be reported, itemized by and assessed to the lessor in
				the taxing district where the property is located on January 1 of each year on
				Form LAT-5. The lessee shall be required to furnish the owner's name and
				address on Form LAT-5.
B. The
				assessor may utilize the cost, income or market approach to valuation, and will
				utilize the approach that is most representative of fair market
				value.
C. In applying the cost
				approach, leased equipment shall be classified by activity/type and the
				appropriate cost index and percent good table used in the same manner as for
				other like equipment.
D. The lessor
				shall submit to each assessment jurisdiction, the age and original selling
				price-new of this equipment. The original selling price-new shall include
				transportation, installation cost and sales tax.
E. The lessor shall furnish the assessor with
				a listing of equipment, by location, for each taxing district and shall submit
				information concerning income from each lease, if requested by the
				assessor.
F. Equipment Restricted
				for Sale by the Federal Government
1. Postage
				Meter. The methodology to value this equipment shall be to multiply the average
				production cost by a level of trade factor of 2.068. This will represent fair
				market value for such property.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 23 - Insurance Companies › Section V-2301 - Guidelines for Ascertaining the Fair Market Value of Insurance Companies

Current through Register Vol. 50, No. 6, June 20, 2024
A. The Tax
				Commission will assess insurance companies with a taxable situs within the
				state of Louisiana at 15 percent of the average monthly amount of direct
				premiums written during the previous year.
B. Credit assessments of insurance companies
				shall be allocated to the parish where the company's official domicile is
				registered and/or recorded or, lacking same, to the parish of domicile of its
				designated principal agent pursuant to
				R.S.
				47:1952(C).
C. The Secretary of State will act as agent
				for service of process for those companies operating within Louisiana which do
				not designate a principal agent. In these cases, the secretary of state will
				become the non-reporting insurance company's principal agent for taxation
				purposes and the appropriate assessment will be allocated to the parish where
				the Secretary of State's office is located (East Baton Rouge Parish).
AUTHORITY NOTE:
				  Promulgated in accordance with La. Constitution of 1974, Article VII, Section
				  21,
				  R.S.
				  47:1709,
				  R.S.
				  47:1837 and
				  R.S.
				  47:2323.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 23 - Insurance Companies › Section V-2303 - Exemption of Life Insurance Companies and Other Insurance Premiums

Current through Register Vol. 50, No. 6, June 20, 2024
A. Life insurance
				companies and accident and health premiums are exempted from ad valorem
				taxation by Louisiana statute. In addition, national flood plan and multiple
				peril crop premiums are exempt by virtue of their being programs underwritten
				by the United States government.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  47:1954.
Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 25 - General Business Assets › Section V-2501 - Guidelines for Ascertaining the Fair Market Value of Office Furniture and Equipment, Machinery and Equipment and Other Assets Used In General Business Activity

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				When the information necessary to use the market and income approaches to value
				is generally not available, the fair market value of office furniture and
				equipment, machinery and equipment and other assets used in general business
				activity can generally best be estimated by the cost approach with
				consideration of information provided by property owners on annual LAT 5 forms,
				written and verbal description of valuation factors impacting the property, and
				other sources. This approach allows the assessors across the State of Louisiana
				to fairly and uniformly assess business and industrial personal property,
				while, at the same time, allowing each assessor the discretion that is
				necessary to accommodate modernization, face lifting of equipment, and
				obsolescence. However, when market and/or income data is presented or
				reasonably available, all of the three approaches to value with reliable data
				should be considered to determine the reconciled fair market value of the
				assessed property.
B. The following
				data is required to use the cost approach to value:
1. total acquisition costs of equipment
				(including freight, installation, taxes and fees, as well as, date of purchase)
				indexed to adjust the cost for the effects of inflation;
i acquisition costs can alternatively be
				determined using market data and/or through a study of current market
				conditions when actual costs are not available;