Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part V - Ad Valorem Taxation › Chapter 3 - Real and Personal Property › Section V-307 - Personal Property Report Forms

Current through Register Vol. 50, No. 6, June 20, 2024
A. The
				appropriate self-reporting Personal Property Report Form, is to be forwarded
				each year, on or before February 15 in the year in which the property is to be
				appraised, to each person in whose name the property is assessed. 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
				Prior to the deadhne for filing a complaint with the Board of Review provided
				for in R.S. 47:1992, the property owner
				shall also submit to the assessor, or the designee contracted by the assessor,
				any and all additional documentation and information the property owner beheves
				is relevant to the determination of fair market value of the reported property.
				Nothing in these Rules prohibits a taxpayer/property owner from arguing that
				the tables fail to achieve fair market value in a particular appeal or that
				another approach to value is appropriate to achieve fair market value in a
				particular appeal. It is the party seeking a deviation from the tables or for a
				reduction for its property based on obsolescence who has the burden of
				producing sufficient data and information to substantiate its claim. The
				assessor shall legitimately consider all evidence and information submitted or
				publicly available to the assessor, including the consideration of functional
				and/or economic obsolescence. The assessor shall request additional
				documentation from the taxpayer if the assessor determines that the
				documentation submitted by the taxpayer is insufficient. The assessor shall
				promptly respond to a taxpayer's request for a reduction in value and/or
				obsolescence. Both the assessors and taxpayers are expected and ordered to act
				in good faith on issues concerning personal property renditions and requests
				for a fair market value reduction based on obsolescence. On appeal to the Tax
				Commission, the assessor shall be prepared to offer an articulated analysis for
				the assessor's determination of value, including the consideration of
				functional and/or economic obsolescence, and shall be prepared to offer an
				articulated analysis for the assessor's evaluation of the sufficiency of the
				taxpayer's documentation.
1. LAT Form 5,
				Personal Property Report Form, should be furnished to all individuals,
				partnerships, corporations, associations, etc., engaged in business and owning
				personal property. After receiving completed personal property report forms
				from any business that has consigned merchandise, or leased, loaned or rented
				equipment, another LAT Form 5 should be sent to those companies owning such
				property. Service station owners and all oil and gas related businesses should
				refer to
				§903 for specific instructions on
				completion of this form.
2. LAT
				Form 5A, Tax Exemption Analysis Form, should be furnished, in addition to LAT
				Form 5, to all concerns enjoying a tax exemption granted under Article VII,
				Section 21(F) of the Louisiana Constitution.
3. LAT Form 6, Loan and Finance Companies
				Form, should be furnished to all loan and finance companies doing business in
				the parish or taxing district.
4.
				LAT Form 7, Cellular Industry Form, should be furnished to all cellular
				industry companies doing business in the parish or taxing district.
5. LAT Form 8, Cable TV Industry Form, should
				be furnished to all cable television industry companies doing business in the
				parish or taxing district.
6. LAT
				Form 10, Brine Operations Property Form, should be furnished to all brine
				operation companies doing business in the parish or taxing district.
7.
a. LAT
				Form 11, Watercraft, should be sent to owners of watercraft domiciled in the
				parish and to all owners operating watercraft out of the parish on the
				assessment date. This form should be used as a supplement to LAT 5 for
				companies that own such property but are not interstate towing or barge line
				companies, whose watercraft are assessed by the Tax Commission as pubhc service
				properties.
i. local parish
				assessor;
ii. Department of Revenue
				and Taxation, Secretary (pursuant to Act 59 of 1994); and
iii. local tax collector.
b. All forms shall bear original
				signatures by the applicable taxpayer for certification purposes.
8. LAT Form 12, Oil and Gas
				Property Form, should be sent to any company, business or individual having
				such property in the parish or taxing district. Refer to the oil and gas
				properties section (§903) for specific instructions on completion of this
				form.
9. LAT Form 13, Drilling Rig
				and Related Equipment Form, should be sent, in addition to LAT Form 5, to any
				company, business or individual having such property in the parish or taxing
				district. Refer to the drilling rigs and related equipment Section (§1101) for
				specific instructions on completion of this form.
10. LAT Form 14, Pipelines Form, should be
				furnished to all companies owning and/or operating pipelines other than
				pipelines which are assessed as public service properties by the Tax
				Commission. This form is considered to be a supplement to LAT Form 5 and LAT
				Form 12. Refer to the pipelines Section (§1301) for specific instructions on
				completion of this form.
11. LAT
				Form 15, Aircraft Form, should be furnished to all individuals, partnerships,
				corporations, associations, etc., owning and/or operating an aircraft in
				Louisiana as of the assessment date. This form is considered to be a supplement
				to LAT Form 5. Refer to the aircraft Section (§1501) for specific instructions
				on completion of this form.